StockNews.com Initiates Coverage on Hess (NYSE:HES)

Equities research analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a report issued on Monday. 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. Pickering Energy Partners upgraded Hess to a “hold” rating in a report on Friday, January 3rd. Scotiabank upped their price target on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Finally, Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.50.

Hess Price Performance

Shares of Hess stock opened at $142.52 on Monday. The company’s 50-day moving average price is $139.95 and its two-hundred day moving average price is $139.44. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. The stock has a market cap of $43.91 billion, a PE ratio of 16.61 and a beta of 1.18. Hess has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess will post 9.74 EPS for the current fiscal year.

Insider Transactions at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John B. Hess sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the sale, the chief executive officer now owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. The trade was a 36.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock valued at $45,856,309 in the last 90 days. 9.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC increased its position in shares of Hess by 2.4% in the third quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock valued at $444,000 after acquiring an additional 78 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of Hess by 6.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 1,577 shares of the oil and gas producer’s stock worth $214,000 after buying an additional 97 shares in the last quarter. Covestor Ltd lifted its stake in shares of Hess by 59.8% in the third 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. Fidelis Capital Partners LLC lifted its stake in shares of Hess by 6.3% in the third quarter. Fidelis Capital Partners LLC now owns 1,673 shares of the oil and gas producer’s stock worth $231,000 after buying an additional 99 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Hess by 31.1% in the third quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock worth $61,000 after buying an additional 107 shares in the last quarter. 88.51% of the stock is owned by 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.