Hess (NYSE:HES) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Hess (NYSE:HES) in a report issued on Tuesday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

A number of other brokerages have also recently issued reports on HES. Susquehanna upped their target price on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group decreased their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Citigroup cut their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.30.

Hess Stock Performance

Shares of HES opened at $145.35 on Tuesday. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 16.94 and a beta of 1.15. The company’s fifty day moving average is $139.12 and its 200-day moving average is $142.38. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. Hess has a 12 month low of $123.79 and a 12 month high of $163.98.

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

Insider Transactions at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,370 shares of company stock worth $45,856,309. Insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Several hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in Hess during the 1st quarter worth $25,000. Groupama Asset Managment grew its stake in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares during the period. Covestor Ltd increased its holdings in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Hess in the third quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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. 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.