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

StockNews.com assumed coverage on shares of Hess (NYSE:HES) in a research report issued on Wednesday. The firm set a “hold” rating on the oil and gas producer’s stock.

HES has been the subject of a number of other reports. Piper Sandler cut their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Mizuho lowered their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Scotiabank lowered their target price on Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Susquehanna lowered their target price on Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess has an average rating of “Moderate Buy” and an average price target of $165.15.

Hess Stock Performance

HES opened at $137.34 on Wednesday. Hess has a 12-month low of $123.79 and a 12-month high of $167.75. The stock has a market cap of $42.32 billion, a price-to-earnings ratio of 21.03 and a beta of 1.15. The business has a 50 day moving average of $135.11 and a 200-day moving average of $146.12. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the firm posted $0.65 earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. On average, equities research analysts expect that Hess will post 10.46 earnings per share for the current year.

Hedge Funds Weigh In On Hess

Hedge funds and other institutional investors have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in shares of Hess in the 1st quarter valued at $25,000. Rise Advisors LLC acquired a new stake in shares of Hess during the 1st quarter valued at $27,000. Riverview Trust Co acquired a new stake in shares of Hess during the 1st quarter valued at $36,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Hess during the 1st quarter valued at $52,000. 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.