Hess (NYSE:HES) Now Covered by StockNews.com

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

Several other research firms have also issued reports on HES. Mizuho raised their price target on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Piper Sandler raised their price target on Hess from $169.00 to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Susquehanna raised their price target on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $176.75.

Hess Stock Up 0.6 %

NYSE HES opened at $151.78 on Wednesday. The stock has a fifty day moving average of $149.71 and a 200-day moving average of $146.79. The stock has a market capitalization of $46.76 billion, a P/E ratio of 33.73 and a beta of 1.27. Hess has a 52 week low of $124.27 and a 52 week high of $167.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the firm earned $1.78 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that Hess will post 8.09 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,798 shares of company stock worth $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of Hess by 581.9% in the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock valued at $358,374,000 after purchasing an additional 1,998,824 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Hess in the fourth quarter valued at approximately $237,100,000. Westchester Capital Management LLC acquired a new position in shares of Hess in the fourth quarter valued at approximately $213,336,000. Invesco Ltd. grew its position in shares of Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after purchasing an additional 1,105,204 shares during the last quarter. Finally, FMR LLC grew its position in shares of Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after purchasing an additional 889,122 shares during 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.