Morgan Stanley Boosts Hess (NYSE:HES) Price Target to $141.00

Posted by on Jun 6th, 2022

Hess (NYSE:HES – Get Rating) had its price target increased by equities researchers at Morgan Stanley from $137.00 to $141.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 11.25% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Hess from a “hold” rating to a “strong-buy” rating and set a $130.00 target price on the stock in a report on Monday, April 11th. Barclays raised their price target on Hess from $124.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Susquehanna upped their price objective on shares of Hess from $118.00 to $138.00 and gave the stock a “positive” rating in a research report on Monday, April 25th. Wells Fargo & Company raised their target price on shares of Hess from $106.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Finally, Mizuho increased their price target on shares of Hess from $139.00 to $158.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $123.43.

HES stock traded down $1.15 during mid-day trading on Monday, hitting $126.74. 21,548 shares of the company were exchanged, compared to its average volume of 2,761,344. Hess has a 1-year low of $61.93 and a 1-year high of $129.40. The stock has a market capitalization of $39.45 billion, a PE ratio of 54.69 and a beta of 1.66. The business has a 50 day simple moving average of $112.49 and a 200-day simple moving average of $96.62. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.15.

Hess (NYSE:HES – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The oil and gas producer reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.18. Hess had a return on equity of 12.35% and a net margin of 9.01%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities research analysts expect that Hess will post 9.05 earnings per share for the current year.

In other news, COO Gregory P. Hill sold 13,771 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $106.23, for a total value of $1,462,893.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Geurt G. Schoonman sold 12,988 shares of Hess stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $96.08, for a total value of $1,247,887.04. The disclosure for this sale can be found here. Insiders have sold a total of 158,565 shares of company stock worth $15,254,170 over the last three months. Insiders own 9.93% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Keybank National Association OH grew its holdings in Hess by 86.7% during the 4th quarter. Keybank National Association OH now owns 581,549 shares of the oil and gas producer’s stock worth $43,052,000 after acquiring an additional 270,119 shares during the period. Zacks Investment Management boosted its holdings in shares of Hess by 6.9% during the 3rd quarter. Zacks Investment Management now owns 29,197 shares of the oil and gas producer’s stock worth $2,280,000 after buying an additional 1,885 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Hess by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 27,734 shares of the oil and gas producer’s stock worth $2,053,000 after buying an additional 1,450 shares during the period. Xponance Inc. lifted its position in shares of Hess by 26.3% during the 4th quarter. Xponance Inc. now owns 20,151 shares of the oil and gas producer’s stock valued at $1,492,000 after acquiring an additional 4,202 shares during the period. Finally, National Bank of Canada FI bought a new position in Hess during the fourth quarter worth $142,000. Institutional investors and hedge funds own 82.51% of the company’s stock.

Hess Company Profile (Get Rating)

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.

See Also

Stock Target Advisor logo

Analyst Recommendations for Hess (NYSE:HES)

Want More Great Investing Ideas?

Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.