Hess (NYSE:HES) Given New $163.00 Price Target at UBS Group

Hess (NYSE:HES) had its target price trimmed by UBS Group from $170.00 to $163.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts have also commented on HES. StockNews.com assumed coverage on shares of Hess in a report on Friday, April 11th. They set a “hold” rating on the stock. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, Scotiabank reduced their price objective on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.26.

Hess Stock Performance

HES stock opened at $127.93 on Wednesday. Hess has a 1-year low of $123.79 and a 1-year high of $163.98. The business’s 50-day moving average price is $145.77 and its two-hundred day moving average price is $142.38. The firm has a market cap of $39.44 billion, a PE ratio of 14.21 and a beta of 0.88. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Hess will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.56%. Hess’s dividend payout ratio is presently 22.22%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 175,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Hess

Large investors have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp bought a new position in Hess during the fourth quarter worth $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter worth about $27,000. Millstone Evans Group LLC bought a new stake in shares of Hess during the 4th quarter worth about $33,000. Rialto Wealth Management LLC acquired a new position in Hess in the 4th quarter valued at about $37,000. Finally, Zions Bancorporation N.A. raised its holdings in Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 203 shares during the period. Institutional investors own 88.51% of the company’s stock.

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.