Stock analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES – Get Free Report) in a research report issued on Saturday. The firm set a “hold” rating on the oil and gas producer’s stock.
Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Citigroup boosted their target price on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Susquehanna raised 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 boosted their price objective on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.50.
View Our Latest Stock Analysis on HES
Hess Trading Down 0.1 %
Hess (NYSE:HES – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. As a group, sell-side analysts anticipate that Hess will post 9.74 earnings per share for the current fiscal year.
Insider Activity at Hess
In related news, CEO John B. Hess sold 90,476 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the transaction, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the sale, the senior vice president now directly owns 27,581 shares in the company, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,370 shares of company stock valued at $45,856,309. Company insiders own 9.76% of the company’s stock.
Institutional Trading of Hess
A number of institutional investors have recently modified their holdings of the company. Groupama Asset Managment raised its stake in shares of Hess by 22.7% in the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 4,186 shares during the period. Covestor Ltd increased its holdings in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Hess in the third quarter valued at about $37,000. Eastern Bank acquired a new position in shares of Hess during the third quarter worth about $48,000. Finally, LRI Investments LLC boosted its position in shares of Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 217 shares during the period. Hedge funds and other 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.
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