Hess Corp. (NYSE:HES) has been given a consensus rating of “Hold” by the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $50.97.
A number of equities analysts have recently issued reports on HES shares. Macquarie restated an “outperform” rating and set a $58.00 target price (down from $63.00) on shares of Hess in a research report on Wednesday, February 21st. BMO Capital Markets lowered their target price on shares of Hess from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. ValuEngine upgraded shares of Hess from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Barclays restated a “hold” rating and set a $49.00 target price on shares of Hess in a research report on Monday, January 8th. Finally, UBS started coverage on shares of Hess in a research report on Wednesday, March 7th. They set a “neutral” rating and a $50.00 target price on the stock.
In related news, Director Kevin Omar Meyers purchased 516 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average cost of $48.48 per share, with a total value of $25,015.68. Following the completion of the acquisition, the director now directly owns 22,117 shares in the company, valued at $1,072,232.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Gregory P. Hill sold 7,422 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $48.04, for a total value of $356,552.88. Following the sale, the chief operating officer now directly owns 90,600 shares of the company’s stock, valued at $4,352,424. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,017 shares of company stock valued at $7,981,459. Corporate insiders own 11.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HES. CoreCommodity Management LLC acquired a new stake in Hess in the fourth quarter valued at $108,000. Tower Research Capital LLC TRC lifted its holdings in Hess by 453.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 2,172 shares during the period. NuWave Investment Management LLC acquired a new stake in Hess in the fourth quarter valued at $141,000. Icon Wealth Partners LLC acquired a new stake in Hess in the fourth quarter valued at $145,000. Finally, Exane Derivatives lifted its holdings in Hess by 65.2% in the fourth quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock valued at $168,000 after acquiring an additional 1,395 shares during the period. 92.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Hess stock opened at $56.32 on Friday. The company has a market capitalization of $17,327.95, a price-to-earnings ratio of -12.22 and a beta of 1.45. Hess has a 52 week low of $37.25 and a 52 week high of $56.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.43 and a current ratio of 2.53.
Hess (NYSE:HES) last announced its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.01) earnings per share. analysts anticipate that Hess will post -1.92 EPS for the current fiscal year.
Hess announced that its Board of Directors has authorized a stock buyback program on Thursday, March 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, March 16th. Hess’s dividend payout ratio is presently -21.69%.
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Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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