Hess (NYSE:HES) Stock Price Expected to Rise, Citigroup Analyst Says

Hess (NYSE:HES) had its price objective increased by stock analysts at Citigroup from $145.00 to $163.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s price target would suggest a potential upside of 15.17% from the stock’s previous close.

A number of other research analysts have also commented on the stock. StockNews.com initiated coverage on shares of Hess in a report on Wednesday. They issued a “hold” rating for the company. UBS Group increased their price objective on Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Susquehanna boosted their target price on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Mizuho decreased their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler lowered their price objective on shares of Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $166.30.

Hess Stock Performance

Shares of HES opened at $141.53 on Friday. The company has a market capitalization of $43.61 billion, a price-to-earnings ratio of 16.50 and a beta of 1.17. 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 52-week low of $123.79 and a 52-week high of $163.98. The stock has a 50 day moving average price of $141.39 and a 200 day moving average price of $141.74.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 27.41% and a net margin of 20.58%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. Research analysts predict that Hess will post 9.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John B. Hess sold 92,894 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,370 shares of company stock worth $45,856,309. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Hess

A number of hedge funds and other institutional investors have recently modified their holdings of HES. Retirement Systems of Alabama boosted its position in Hess by 330.3% during the third quarter. Retirement Systems of Alabama now owns 262,316 shares of the oil and gas producer’s stock worth $35,623,000 after acquiring an additional 201,349 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Hess during the third quarter worth $23,765,000. Franklin Resources Inc. boosted its holdings in shares of Hess by 20.8% during the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after purchasing an additional 208,996 shares during the last quarter. Tidal Investments LLC increased its stake in Hess by 4.0% in the third quarter. Tidal Investments LLC now owns 19,830 shares of the oil and gas producer’s stock valued at $2,693,000 after purchasing an additional 757 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Hess in the third quarter valued at $232,000. 88.51% of the stock is currently 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.