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

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a report issued on Tuesday. The firm set a “hold” rating on the oil and gas producer’s stock.

Other research analysts have also issued reports about the company. Piper Sandler dropped their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Mizuho dropped their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Susquehanna upped their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price target on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company dropped their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $163.30.

Hess Trading Up 0.3 %

Shares of Hess stock opened at $146.76 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 17.10 and a beta of 1.15. The business has a fifty day simple moving average of $139.73 and a 200-day simple moving average of $142.31. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. Hess’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. On average, equities analysts forecast that Hess will post 9.72 EPS for the current fiscal year.

Insider Buying and Selling at Hess

In other news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the sale, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Hess sold 92,894 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total value of $13,729,733.20. Following the transaction, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,370 shares of company stock valued at $45,856,309 in the last 90 days. 9.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hess

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in shares of Hess during the 1st quarter worth approximately $25,000. Covestor Ltd lifted its position in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares during the period. EverSource Wealth Advisors LLC raised 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 purchasing an additional 88 shares during the last quarter. FSA Wealth Management LLC bought a new position in Hess in the 3rd quarter valued at $37,000. Finally, Eastern Bank bought a new position in Hess in the 3rd quarter valued at $48,000. Institutional investors own 88.51% of the company’s stock.

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.