Hess (NYSE:HES) Price Target Increased to $164.00 by Analysts at Susquehanna

Hess (NYSE:HES) had its target price raised by Susquehanna from $156.00 to $164.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Other analysts have also recently issued research reports about the stock. Mizuho upped their price objective on shares of Hess from $200.00 to $205.00 and gave the company a neutral rating in a research note on Wednesday, March 20th. Piper Sandler upped their price target on Hess from $172.00 to $173.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Finally, StockNews.com initiated coverage on Hess in a research report on Wednesday, April 17th. They set a sell rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess has an average rating of Hold and a consensus price target of $177.42.

Hess Price Performance

Shares of HES opened at $161.45 on Monday. The firm has a market capitalization of $49.74 billion, a PE ratio of 35.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The company’s fifty day moving average price is $151.09 and its 200-day moving average price is $147.20. Hess has a 1-year low of $124.27 and a 1-year high of $167.75.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share 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 business earned $1.78 earnings per share. Hess’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that Hess will post 8.62 EPS for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 38.89%.

Insider Activity at Hess

In related news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the company’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 sale, the senior vice president now owns 33,581 shares in the company, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares in the company, valued at $7,257,071.80. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock worth $22,811,166 over the last 90 days. Company insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dynamic Advisor Solutions LLC purchased a new position in Hess in the 3rd quarter valued at about $275,000. IFP Advisors Inc grew its stake in Hess by 139.7% in the 3rd quarter. IFP Advisors Inc now owns 374 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 218 shares during the period. Schwartz Investment Counsel Inc. raised its holdings in Hess by 13.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 14,100 shares of the oil and gas producer’s stock valued at $2,157,000 after acquiring an additional 1,700 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Hess by 77.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 482 shares of the oil and gas producer’s stock worth $74,000 after purchasing an additional 210 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Hess during the 3rd quarter worth $130,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

About Hess

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.