Hess (NYSE:HES) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Hess (NYSE:HES) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

HES has been the subject of a number of other reports. Scotiabank lifted their target price on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Piper Sandler lowered their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. BMO Capital Markets upped their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Finally, UBS Group increased their price objective on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.50.

Hess Stock Down 0.1 %

Shares of HES opened at $130.58 on Friday. The company’s 50-day simple moving average is $140.08 and its 200-day simple moving average is $140.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. Hess has a 1 year low of $123.79 and a 1 year high of $163.98. The stock has a market capitalization of $40.23 billion, a PE ratio of 15.22 and a beta of 1.17.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts forecast that Hess will post 9.74 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 shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the transaction, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the company’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 over the last 90 days. Corporate insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Institutional investors have recently added to or reduced their stakes in the stock. Groupama Asset Managment lifted its position in Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 4,186 shares during the period. Covestor Ltd lifted its holdings in shares of Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC purchased a new position in Hess in the 3rd quarter valued at $37,000. Eastern Bank acquired a new position in Hess in the 3rd quarter valued at $48,000. Finally, LRI Investments LLC raised its position in Hess by 157.2% during the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 217 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

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.