Hess (NYSE:HES) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Saturday morning. The firm issued a sell rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. Mizuho increased 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. Susquehanna increased their price objective on shares of Hess from $156.00 to $164.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Finally, Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $177.42.

Hess Trading Up 0.3 %

HES stock traded up $0.45 during mid-day trading on Friday, reaching $160.40. The company had a trading volume of 1,378,557 shares, compared to its average volume of 2,563,883. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 0.96. The firm has a 50 day moving average of $153.65 and a 200 day moving average of $147.15. Hess has a 12 month low of $124.27 and a 12 month high of $167.75. The company has a market capitalization of $49.42 billion, a PE ratio of 24.56 and a beta of 1.24.

Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm earned $1.13 earnings per share. The company’s quarterly revenue was up 36.2% on a year-over-year basis. On average, equities analysts predict that Hess will post 9.17 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.09%. Hess’s dividend payout ratio is currently 26.80%.

Insiders Place Their Bets

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy B. Goodell sold 2,701 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,798 shares of company stock valued at $22,811,166. Insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after buying an additional 68 shares in the last quarter. Spire Wealth Management increased its holdings in Hess by 30.7% in the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 75 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Hess by 17.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 77 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Hess by 10.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 80 shares in the last quarter. Finally, Drive Wealth Management LLC increased its holdings in Hess by 1.8% in the first quarter. Drive Wealth Management LLC now owns 4,527 shares of the oil and gas producer’s stock valued at $691,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

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.