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

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

Other equities analysts also recently issued reports about the stock. Citigroup lifted 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. UBS Group boosted their target price on Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Susquehanna raised their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Scotiabank lifted their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Finally, Piper Sandler decreased their target price on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Hess Price Performance

Shares of HES stock opened at $127.66 on Friday. The company has a market capitalization of $39.33 billion, a P/E ratio of 14.88 and a beta of 1.17. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The stock has a 50 day moving average of $141.09 and a two-hundred day moving average of $140.94.

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 firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Hess will post 9.74 EPS for the current year.

Insider Buying and Selling

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John B. Hess sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the sale, the chief executive officer now owns 217,894 shares in the company, 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 have sold 314,370 shares of company stock valued at $45,856,309 in the last 90 days. 9.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HES. Groupama Asset Managment boosted 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 last quarter. Covestor Ltd lifted its position in shares of Hess by 59.8% in 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 in the last quarter. FSA Wealth Management LLC acquired a new position in Hess during the third quarter worth $37,000. Eastern Bank bought a new position in Hess in the third quarter valued at $48,000. Finally, LRI Investments LLC increased its stake in Hess by 157.2% in the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 217 shares during the last quarter. 88.51% of the stock is currently 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.