Hess (NYSE:HES) Given New $154.00 Price Target at Susquehanna

Hess (NYSE:HES) had its price objective lifted by Susquehanna from $149.00 to $154.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

HES has been the subject of several other research reports. StockNews.com started coverage on shares of Hess in a report on Thursday. They issued a “hold” rating for the company. Piper Sandler dropped their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Monday, September 30th. BMO Capital Markets raised their target price on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Mizuho cut their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Seven equities research 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 a consensus price target of $164.00.

Hess Stock Performance

Shares of HES opened at $139.42 on Friday. The firm has a market capitalization of $42.96 billion, a P/E ratio of 21.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. Hess has a one year low of $123.79 and a one year high of $167.75. The business has a fifty day moving average of $135.11 and a 200 day moving average of $145.37.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Hess will post 10.22 EPS for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Monday, September 16th. Hess’s payout ratio is presently 30.63%.

Hedge Funds Weigh In On Hess

A number of large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in Hess by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after purchasing an additional 68 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after buying an additional 72 shares in the last quarter. Quent Capital LLC increased its stake in shares of Hess by 7.3% during the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after purchasing an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Hess by 17.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 77 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after purchasing an additional 78 shares in the last quarter. 88.51% of the stock is currently 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.