Hess (NYSE:HES) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note released on Wednesday. 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 the stock. Wolfe Research raised shares of Hess from a peer perform rating to an outperform rating and set a $150.00 price objective for the company in a research report on Monday, September 30th. Susquehanna dropped their price objective on Hess from $151.00 to $149.00 and set a neutral rating on the stock in a report on Wednesday, September 4th. Scotiabank reduced their target price on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on shares of Hess from $171.00 to $151.00 and set an equal weight rating for the company in a research report on Friday, September 27th. Finally, Sanford C. Bernstein raised shares of Hess from a market perform rating to an outperform rating and upped their price target for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $165.15.

Hess Trading Up 0.8 %

Shares of HES opened at $138.49 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. Hess has a 12 month low of $123.79 and a 12 month high of $167.75. The stock has a market cap of $42.67 billion, a PE ratio of 21.21 and a beta of 1.15. The stock’s 50-day moving average is $134.82 and its two-hundred day moving average is $146.03.

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

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is presently 30.63%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Connectus Wealth LLC grew its position in shares of Hess by 4.0% during the fourth quarter. Connectus Wealth LLC now owns 5,486 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 210 shares during the last quarter. Point72 Europe London LLP bought a new position in Hess in the 4th quarter worth about $692,000. LM Advisors LLC acquired a new stake in shares of Hess in the fourth quarter valued at approximately $299,000. K2 Principal Fund L.P. bought a new stake in shares of Hess during the fourth quarter valued at approximately $2,616,000. Finally, TIG Advisors LLC acquired a new position in shares of Hess during the fourth quarter worth approximately $5,162,000. 88.51% of the stock is currently owned by institutional investors.

Hess Company Profile

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.