StockNews.com Initiates Coverage on Hess (NYSE:HES)

StockNews.com began coverage on shares of Hess (NYSE:HES) in a report released on Saturday morning. The firm issued a hold rating on the oil and gas producer’s stock.

HES has been the topic of several other reports. UBS Group lifted their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup lifted their price target on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.60.

Hess Price Performance

Shares of HES stock opened at $147.96 on Friday. The firm has a market cap of $45.59 billion, a P/E ratio of 16.44 and a beta of 1.17. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The business’s 50 day moving average price is $141.02 and its 200-day moving average price is $139.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. On average, equities research analysts anticipate that Hess will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, December 16th. Hess’s dividend payout ratio (DPR) is 22.22%.

Institutional Investors Weigh In On Hess

Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in shares of Hess by 1.3% in the third quarter. Creative Planning now owns 19,369 shares of the oil and gas producer’s stock worth $2,630,000 after purchasing an additional 241 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Hess by 60.8% in the third quarter. Blue Trust Inc. now owns 1,219 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 461 shares during the last quarter. Raymond James & Associates raised its stake in shares of Hess by 100.2% in the third quarter. Raymond James & Associates now owns 98,429 shares of the oil and gas producer’s stock worth $13,367,000 after purchasing an additional 49,267 shares during the last quarter. Eastern Bank purchased a new position in shares of Hess in the third quarter worth $48,000. Finally, Private Advisor Group LLC raised its stake in shares of Hess by 21.5% in the third quarter. Private Advisor Group LLC now owns 15,126 shares of the oil and gas producer’s stock worth $2,054,000 after purchasing an additional 2,673 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

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.