StockNews.com Initiates Coverage on Hess (NYSE:HES)

StockNews.com initiated coverage on shares of Hess (NYSE:HESFree Report) in a research report sent to investors on Thursday. The firm issued a sell rating on the oil and gas producer’s stock.

A number of other equities analysts have also commented on HES. Citigroup boosted their price target on shares of Hess from $145.00 to $160.00 and gave the company a neutral rating in a research report on Wednesday, June 5th. Mizuho boosted their price target on shares of Hess from $205.00 to $210.00 and gave the company a neutral rating in a research report on Monday, May 13th. Susquehanna boosted their price target on shares of Hess from $164.00 to $167.00 and gave the company a neutral rating in a research report on Thursday, May 16th. Finally, Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Hess presently has an average rating of Hold and a consensus target price of $177.83.

Check Out Our Latest Stock Report on HES

Hess Price Performance

Shares of Hess stock opened at $146.18 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. The firm’s 50-day simple moving average is $152.95 and its 200-day simple moving average is $148.46. Hess has a twelve month low of $129.12 and a twelve month high of $167.75. The firm has a market cap of $45.04 billion, a P/E ratio of 22.39 and a beta of 1.19.

Hess (NYSE:HESGet Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. As a group, research analysts expect that Hess will post 9.99 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in Hess during the first quarter worth $25,000. Rise Advisors LLC bought a new stake in Hess during the first quarter worth $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Hess during the fourth quarter worth $27,000. Sound Income Strategies LLC bought a new stake in Hess during the fourth quarter worth $29,000. Finally, Orion Capital Management LLC bought a new stake in Hess during the third quarter worth $33,000. 88.51% of the stock is owned by institutional investors.

About Hess

(Get Free Report)

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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Analyst Recommendations for Hess (NYSE:HES)

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