Hess (NYSE:HES) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note released on Friday. The firm issued a hold rating on the oil and gas producer’s stock.

Several other brokerages have also issued reports on HES. BMO Capital Markets increased their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company lowered their price target on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Citigroup cut their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. UBS Group reduced their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Susquehanna lifted their target price on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.00.

Hess Stock Performance

Shares of HES opened at $138.02 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The firm’s 50 day moving average is $135.42 and its 200-day moving average is $144.88. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The stock has a market capitalization of $42.53 billion, a P/E ratio of 21.14 and a beta of 1.15.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) 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 business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. Equities research analysts anticipate that Hess will post 10.22 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is currently 30.63%.

Institutional Investors Weigh In On Hess

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. raised its holdings in shares of Hess by 13.2% in the first quarter. Sunbelt Securities Inc. now owns 1,211 shares of the oil and gas producer’s stock valued at $185,000 after buying an additional 141 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Hess by 13.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,841 shares of the oil and gas producer’s stock worth $892,000 after purchasing an additional 706 shares during the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Hess during the first quarter worth $201,000. Breakwater Capital Group increased its holdings in Hess by 8.2% in the first quarter. Breakwater Capital Group now owns 1,629 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 124 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in Hess by 10.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

About Hess

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.