Barclays reaffirmed their hold rating on shares of Hess (NYSE:HES) in a research report released on Monday, January 8th. They currently have a $49.00 price target on the oil and gas producer’s stock.
Several other research firms have also commented on HES. Zacks Investment Research lowered Hess from a buy rating to a hold rating in a research note on Thursday, October 12th. BMO Capital Markets set a $45.00 target price on shares of Hess and gave the stock a hold rating in a report on Tuesday, October 10th. Scotiabank set a $52.00 price objective on shares of Hess and gave the company a buy rating in a report on Wednesday, October 25th. Credit Suisse Group started coverage on shares of Hess in a report on Monday, December 11th. They issued an underperform rating and a $38.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Hess from $43.00 to $49.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $51.12.
Shares of Hess (HES) traded down $1.00 during midday trading on Monday, reaching $53.54. 5,032,300 shares of the company were exchanged, compared to its average volume of 4,234,070. The stock has a market cap of $17,270.00, a price-to-earnings ratio of -2.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.68 and a current ratio of 1.84. Hess has a 52 week low of $37.25 and a 52 week high of $60.13.
Hess (NYSE:HES) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.27 billion. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.12) EPS. equities research analysts predict that Hess will post -4.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Hess’s dividend payout ratio (DPR) is presently -4.95%.
In related news, COO Gregory P. Hill sold 7,400 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HES. Oppenheimer Asset Management Inc. increased its stake in shares of Hess by 7.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 167 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Hess during the third quarter worth about $134,000. Advisor Group Inc. increased its stake in shares of Hess by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 362 shares in the last quarter. Point View Wealth Management Inc. purchased a new stake in shares of Hess during the third quarter worth about $208,000. Finally, Wesbanco Bank Inc. acquired a new position in Hess during the third quarter worth about $220,000. 89.65% of the stock is owned by institutional investors.
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Hess Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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