Hess Co. (NYSE:HES) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Hess Co. (NYSE:HES) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $170.50.

Several research firms have recently weighed in on HES. BMO Capital Markets boosted their target price on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Susquehanna boosted their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group lifted their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Citigroup increased their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Scotiabank lifted their price objective on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th.

Hess Stock Performance

Shares of Hess stock opened at $130.58 on Friday. 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 firm’s 50 day moving average is $140.08 and its two-hundred day moving average is $140.14. The firm has a market capitalization of $40.23 billion, a P/E ratio of 15.22 and a beta of 1.17.

Hess (NYSE:HES) last posted 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 net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm posted $1.64 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Research analysts forecast that Hess will post 9.74 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, December 16th. Hess’s dividend payout ratio is presently 23.31%.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the completion of the transaction, the chief executive officer now owns 229,465 shares in the company, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares in the company, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,370 shares of company stock worth $45,856,309. Company insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Hedge funds have recently bought and sold shares of the company. Groupama Asset Managment grew its holdings in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares during the last quarter. Covestor Ltd boosted its position in shares of Hess by 59.8% in 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 in the last quarter. FSA Wealth Management LLC acquired a new stake in Hess in the 3rd quarter valued at about $37,000. Eastern Bank purchased a new position in Hess during the 3rd quarter valued at about $48,000. Finally, LRI Investments LLC increased its holdings in Hess by 157.2% during the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 217 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.