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

StockNews.com started coverage on shares of Hess (NYSE:HES) in a note issued to investors on Wednesday. The firm set a “hold” rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group upped their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. Scotiabank increased their target price on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.50.

Hess Stock Down 0.8 %

Shares of HES opened at $144.95 on Wednesday. Hess has a 52 week low of $123.79 and a 52 week high of $163.98. The firm has a market capitalization of $44.66 billion, a P/E ratio of 16.89 and a beta of 1.18. The company has a 50-day simple moving average of $141.01 and a 200-day simple moving average of $139.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. On average, equities research analysts expect that Hess will post 9.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 125,000 shares of Hess stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the completion of the sale, the chief executive officer now owns 217,894 shares in the company, valued at $32,047,849.52. The trade was a 36.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 314,370 shares of company stock valued at $45,856,309. Insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Groupama Asset Managment grew its stake in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares during the period. Covestor Ltd boosted its stake in 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 acquiring an additional 98 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Hess in the third quarter valued at approximately $37,000. Eastern Bank acquired a new stake in Hess in the third quarter worth $48,000. Finally, LRI Investments LLC boosted its position in shares of Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds 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.