Hess (NYSE:HES) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Hess (NYSE:HES) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

A number of other research firms also recently commented on HES. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Monday, September 30th. Susquehanna lifted their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company dropped their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Piper Sandler decreased their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, Citigroup lowered their price target on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average price target of $163.30.

Hess Price Performance

Shares of HES stock opened at $146.16 on Monday. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a market capitalization of $45.03 billion, a P/E ratio of 17.03 and a beta of 1.15. The stock has a 50 day moving average of $137.56 and a two-hundred day moving average of $142.70. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company posted $1.64 earnings per share. Hess’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Hess will post 9.72 EPS for the current year.

Insider Activity

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. This represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hess

Institutional investors and hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in Hess during the 1st quarter worth about $25,000. Covestor Ltd grew its position in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 88 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Hess in the third quarter valued at approximately $37,000. Finally, Eastern Bank bought a new position in Hess in the third quarter valued at approximately $48,000. Institutional investors own 88.51% of the company’s stock.

About Hess

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.