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

Analysts at StockNews.com started coverage on shares of Hess (NYSE:HES) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

A number of other equities analysts have also weighed in on HES. Mizuho decreased 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. Wells Fargo & Company dropped their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Scotiabank raised their price objective on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Citigroup reduced their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Susquehanna raised their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Hess has a consensus rating of “Hold” and a consensus target price of $163.30.

Hess Stock Performance

Shares of HES opened at $142.18 on Friday. The stock has a 50 day moving average price of $135.65 and a two-hundred day moving average price of $143.67. Hess has a 52 week low of $123.79 and a 52 week high of $163.98. The firm has a market capitalization of $43.81 billion, a P/E ratio of 16.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.26.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast that Hess will post 9.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the sale, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HES. New Covenant Trust Company N.A. acquired a new stake in shares of Hess during the first quarter worth about $25,000. Covestor Ltd increased its holdings in shares of Hess by 59.8% during 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 during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $43,000 after buying an additional 88 shares during the last quarter. Eastern Bank acquired a new stake in Hess in the 3rd quarter valued at $48,000. Finally, Coastline Trust Co purchased a new position in Hess in the 3rd quarter valued at about $55,000. 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.