Hess (NYSE:HES) Price Target Cut to $194.00

Hess (NYSE:HES) had its target price trimmed by Mizuho from $210.00 to $194.00 in a research note released on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on HES. Sanford C. Bernstein raised Hess from a market perform rating to an outperform rating and upped their price target for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Citigroup dropped their price target on Hess from $160.00 to $145.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Scotiabank dropped their price target on Hess from $165.00 to $157.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Susquehanna dropped their price target on Hess from $151.00 to $149.00 and set a neutral rating on the stock in a research report on Wednesday, September 4th. Finally, Piper Sandler dropped their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hess currently has an average rating of Hold and a consensus price target of $171.31.

Hess Stock Up 1.6 %

NYSE HES opened at $133.50 on Monday. The stock has a market cap of $41.13 billion, a PE ratio of 20.44 and a beta of 1.15. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $167.75. The business has a 50 day moving average price of $138.44 and a two-hundred day moving average price of $147.08. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78.

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

Hess Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. Hess’s dividend payout ratio (DPR) is 30.63%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Treasurer of the State of North Carolina increased its holdings in shares of Hess by 1.0% during 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 acquiring an additional 1,210 shares during the last quarter. TD Asset Management Inc increased 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 valued at $14,464,000 after acquiring an additional 12,649 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Hess by 136.1% during the 4th quarter. Clearbridge Investments LLC now owns 690,526 shares of the oil and gas producer’s stock valued at $99,546,000 after acquiring an additional 398,089 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Hess by 59.9% during the 1st quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock valued at $4,087,000 after acquiring an additional 10,053 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Hess by 774.8% during the 4th quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock valued at $75,351,000 after acquiring an additional 462,953 shares during the last quarter. Institutional investors and hedge funds 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.