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

Analysts at StockNews.com started coverage on shares of Hess (NYSE:HES) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. UBS Group raised their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price objective on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Stock Down 9.8 %

NYSE HES opened at $133.89 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $41.28 billion, a price-to-earnings ratio of 14.88 and a beta of 0.88. Hess has a 1-year low of $123.79 and a 1-year high of $163.98. The stock’s 50 day moving average is $148.37 and its two-hundred day moving average is $142.66.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. Equities analysts forecast that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hess

A number of institutional investors have recently made changes to their positions in HES. Checchi Capital Advisers LLC grew its holdings in Hess by 3.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after purchasing an additional 72 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Hess by 1.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock valued at $528,000 after buying an additional 73 shares during the period. Moss Adams Wealth Advisors LLC increased its position in shares of Hess by 5.3% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 85 shares in the last quarter. Howard Capital Management Inc. raised its stake in Hess by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after acquiring an additional 96 shares in the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

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.