StockNews.com began coverage on shares of Hess (NYSE:HES – Free Report) in a research note published on Saturday. The brokerage issued a hold rating on the oil and gas producer’s stock.
A number of other equities analysts have also recently weighed in on HES. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Citigroup increased their target price on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. UBS Group lifted their price target on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.60.
View Our Latest Report on Hess
Hess Trading Up 0.4 %
Hess (NYSE:HES – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, equities research analysts anticipate that Hess will post 8.08 earnings per share for the current year.
Hess Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, December 16th. Hess’s payout ratio is 22.22%.
Institutional Trading of Hess
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new position in Hess in the 4th quarter valued at about $3,117,000. Manning & Napier Advisors LLC acquired a new position in shares of Hess in the fourth quarter valued at approximately $2,274,000. Czech National Bank lifted its stake in shares of Hess by 6.4% during the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock valued at $7,971,000 after buying an additional 3,625 shares during the period. Franklin Resources Inc. boosted its position in Hess by 20.8% during the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after acquiring an additional 208,996 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Hess by 34.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 19,235 shares of the oil and gas producer’s stock worth $2,558,000 after acquiring an additional 4,891 shares during the period. 88.51% of the stock is currently owned by hedge funds and other 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.
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