Hess (NYSE:HES) PT Lowered to $167.00

Hess (NYSE:HES) had its price objective trimmed by Piper Sandler from $173.00 to $167.00 in a research note released on Friday.

Other research analysts also recently issued reports about the stock. StockNews.com initiated coverage on shares of Hess in a research report on Friday, June 28th. They set a hold rating on the stock. UBS Group cut their price target on Hess from $193.00 to $192.00 and set a buy rating on the stock in a research note on Tuesday, August 20th. Scotiabank decreased their price objective on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Wolfe Research began coverage on Hess in a report on Thursday, July 18th. They issued a peer perform rating for the company. Finally, Susquehanna lowered their price target on Hess from $151.00 to $149.00 and set a neutral rating for the company in a research note on Wednesday, September 4th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $172.77.

Hess Trading Up 0.7 %

Shares of NYSE HES opened at $128.92 on Friday. Hess has a 1-year low of $123.79 and a 1-year high of $167.75. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average of $139.36 and a two-hundred day moving average of $147.41. The company has a market cap of $39.72 billion, a PE ratio of 19.74 and a beta of 1.15.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities analysts expect that Hess will post 11.04 earnings per share for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.50 dividend. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.55%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Institutional Trading of Hess

A number of large investors have recently added to or reduced their stakes in HES. Treasurer of the State of North Carolina grew its stake in Hess by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock valued at $17,781,000 after buying an additional 1,210 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Hess by 14.4% during the 4th quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock worth $14,464,000 after purchasing an additional 12,649 shares in the last quarter. Clearbridge Investments LLC raised its stake in Hess by 136.1% in the fourth quarter. Clearbridge Investments LLC now owns 690,526 shares of the oil and gas producer’s stock valued at $99,546,000 after purchasing an additional 398,089 shares in the last quarter. Tidal Investments LLC lifted its position in Hess by 59.9% during the first quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock worth $4,087,000 after purchasing an additional 10,053 shares during the period. Finally, Bank of Nova Scotia lifted its position in Hess by 774.8% during the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock worth $75,351,000 after purchasing an additional 462,953 shares during the period. Institutional investors and hedge funds 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.