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

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

Several other equities research analysts have also commented on HES. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group increased their target price on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Finally, Citigroup raised their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Hess Price Performance

Shares of HES opened at $160.23 on Thursday. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The stock has a market cap of $49.40 billion, a P/E ratio of 17.80 and a beta of 1.21. The business’s fifty day moving average is $148.51 and its 200 day moving average is $142.58. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. Sell-side analysts anticipate that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares in the company, valued at $379,879,364.70. This represents a 6.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Several large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Hess by 43.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 851 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 257 shares in the last quarter. CIBRA Capital Ltd bought a new stake in Hess in the fourth quarter worth $14,324,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Hess by 16.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,927 shares of the oil and gas producer’s stock worth $921,000 after acquiring an additional 986 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in Hess in the 4th quarter worth about $1,210,000. Finally, Aegis Wealth Management LLC purchased a new stake in shares of Hess during the fourth quarter valued at approximately $214,000. 88.51% of the stock is owned by institutional investors.

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.