Hess (NYSE:HES) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Hess (NYSE:HES) in a research report sent to investors on Friday morning. The firm issued a hold rating on the oil and gas producer’s stock.

HES has been the topic of a number of other reports. Citigroup increased their price objective on shares of Hess from $145.00 to $160.00 and gave the company a neutral rating in a research note on Wednesday, June 5th. Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the company an overweight rating in a research note on Thursday, April 18th. Susquehanna boosted their price objective on Hess from $164.00 to $167.00 and gave the company a neutral rating in a research report on Thursday, May 16th. Finally, Mizuho increased their target price on Hess from $205.00 to $210.00 and gave the stock a neutral rating in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Hess currently has a consensus rating of Hold and an average price target of $177.83.

Hess Stock Up 0.4 %

Shares of NYSE:HES opened at $148.12 on Friday. The company has a market capitalization of $45.64 billion, a price-to-earnings ratio of 22.68 and a beta of 1.16. The company has a 50 day moving average of $152.63 and a two-hundred day moving average of $148.94. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. Hess has a 52-week low of $129.12 and a 52-week high of $167.75.

Hess (NYSE:HES) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. Hess’s revenue for the quarter was up 36.2% on a year-over-year basis. As a group, analysts forecast that Hess will post 10.28 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is currently 26.80%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in Hess during the 1st quarter valued at $25,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Hess during the fourth quarter worth about $27,000. Rise Advisors LLC bought a new stake in Hess in the first quarter worth about $27,000. Sound Income Strategies LLC acquired a new stake in Hess in the 4th quarter valued at about $29,000. Finally, Cape Investment Advisory Inc. bought a new position in shares of Hess during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

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.