Hess (NYSE:HES) Given New $173.00 Price Target at UBS Group

Hess (NYSE:HES) had its target price reduced by UBS Group from $192.00 to $173.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities research analysts have also issued research reports about the stock. Susquehanna reduced their price target on shares of Hess from $151.00 to $149.00 and set a neutral rating for the company in a report on Wednesday, September 4th. Wolfe Research started coverage on shares of Hess in a research note on Thursday, July 18th. They issued a peer perform rating for the company. StockNews.com started coverage on Hess in a research report on Friday, June 28th. They set a hold rating on the stock. Mizuho decreased their price objective on Hess from $210.00 to $194.00 and set a neutral rating for the company in a research note on Monday. Finally, Sanford C. Bernstein upgraded shares of Hess from a market perform rating to an outperform rating and boosted their target price for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $171.31.

Hess Trading Up 0.4 %

HES opened at $131.39 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The stock’s fifty day moving average is $138.73 and its two-hundred day moving average is $147.17. The company has a market capitalization of $40.48 billion, a P/E ratio of 20.12 and a beta of 1.15. Hess has a 52 week low of $123.79 and a 52 week high of $167.75.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. Analysts forecast that Hess will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is 30.63%.

Institutional Investors Weigh In On Hess

Several hedge funds have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new stake in shares of Hess in the first quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Hess in the 1st quarter worth approximately $27,000. Cape Investment Advisory Inc. acquired a new stake in shares of Hess during the 4th quarter worth approximately $32,000. Riverview Trust Co purchased a new position in shares of Hess during the 1st quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Company Profile

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.