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

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

Other equities analysts also recently issued reports about the company. BMO Capital Markets raised their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Citigroup raised their price target on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Susquehanna lifted their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Monday, September 30th. Finally, Scotiabank upped their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Hess Trading Down 0.6 %

NYSE HES opened at $140.20 on Thursday. The company has a 50-day moving average of $141.65 and a 200-day moving average of $141.56. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a market cap of $43.20 billion, a P/E ratio of 16.34 and a beta of 1.17.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping 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 company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $1.64 earnings per share. Hess’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Hess will post 9.74 earnings per share for the current year.

Insider Buying and Selling at Hess

In other news, 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 value of $851,460.00. Following the sale, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John B. Hess sold 125,000 shares of Hess stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total value of $18,385,000.00. Following the completion of the transaction, the chief executive officer now owns 217,894 shares of the company’s stock, valued at $32,047,849.52. This trade represents a 36.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,370 shares of company stock worth $45,856,309 in the last 90 days. 9.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hess

Several institutional investors and hedge funds have recently made changes to their positions in HES. Retirement Systems of Alabama lifted its stake in Hess by 330.3% in the third quarter. Retirement Systems of Alabama now owns 262,316 shares of the oil and gas producer’s stock valued at $35,623,000 after buying an additional 201,349 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Hess during the 3rd quarter valued at about $23,765,000. Franklin Resources Inc. grew its position in Hess by 20.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after purchasing an additional 208,996 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Hess by 4.0% in the third quarter. Tidal Investments LLC now owns 19,830 shares of the oil and gas producer’s stock valued at $2,693,000 after purchasing an additional 757 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Hess during the third quarter valued at approximately $232,000. 88.51% of the stock is owned by institutional investors and hedge funds.

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.