Shares of Hess Corp. (NYSE:HES) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $69.00.
Several equities analysts have recently issued reports on HES shares. ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. MKM Partners reiterated a “neutral” rating and issued a $71.00 price objective on shares of Hess in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, April 30th. Finally, Capital One Financial upgraded Hess from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th.
In related news, COO Gregory P. Hill sold 63,806 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $66.62, for a total transaction of $4,250,755.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael R. Turner sold 18,756 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $66.52, for a total value of $1,247,649.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,813 shares of company stock valued at $7,219,253. 12.22% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Icon Wealth Partners LLC purchased a new stake in Hess in the first quarter valued at approximately $25,000. Lindbrook Capital LLC purchased a new stake in Hess in the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund lifted its stake in Hess by 3,900.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 1,080,934 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in Hess in the first quarter valued at approximately $27,000. Finally, Rational Advisors LLC lifted its stake in Hess by 266.5% in the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.
NYSE HES traded down $0.53 during trading on Friday, hitting $57.78. The stock had a trading volume of 25,654 shares, compared to its average volume of 2,940,684. The company has a market cap of $17.21 billion, a P/E ratio of -78.69 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 1.57. Hess has a twelve month low of $35.59 and a twelve month high of $74.81.
Hess (NYSE:HES) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.35. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. Hess’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. On average, analysts anticipate that Hess will post 0.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s payout ratio is -135.14%.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, 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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