Hess (NYSE:HES) Price Target Increased to $160.00 by Analysts at BMO Capital Markets

Hess (NYSE:HES) had its price target boosted by BMO Capital Markets from $155.00 to $160.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the oil and gas producer’s stock.

Several other analysts also recently commented on the stock. Mizuho decreased their target price on shares of Hess from $210.00 to $194.00 and set a neutral rating for the company in a research report on Monday, September 16th. Citigroup reduced their price target on Hess from $160.00 to $145.00 and set a neutral rating for the company in a research report on Thursday, September 5th. Susquehanna decreased their price target on Hess from $151.00 to $149.00 and set a neutral rating for the company in a research note on Wednesday, September 4th. StockNews.com began coverage on Hess in a research note on Friday, June 28th. They issued a hold rating on the stock. Finally, UBS Group lowered their price target on Hess from $192.00 to $173.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Hess has a consensus rating of Moderate Buy and a consensus price target of $165.15.

Hess Trading Down 0.1 %

Hess stock opened at $140.26 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess has a 12 month low of $123.79 and a 12 month high of $167.75. The company’s fifty day simple moving average is $135.28 and its 200-day simple moving average is $146.18. The stock has a market cap of $43.22 billion, a P/E ratio of 21.51 and a beta of 1.15.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. As a group, sell-side analysts forecast that Hess will post 10.46 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio (DPR) is 30.63%.

Hedge Funds Weigh In On Hess

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in shares of Hess in the 1st quarter worth approximately $25,000. Rise Advisors LLC acquired a new position in Hess during the 1st quarter worth about $27,000. Riverview Trust Co bought a new stake in Hess during the 1st quarter worth about $36,000. EverSource Wealth Advisors LLC increased its position in Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Hess in the first quarter worth about $52,000. 88.51% of the stock is 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.