Hess Co. (NYSE:HES) Given Average Rating of “Buy” by Brokerages

Shares of Hess Co. (NYSE:HESGet Rating) have received a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $126.67.

Several brokerages have recently issued reports on HES. Raymond James raised their price objective on Hess from $112.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Wells Fargo & Company raised their price objective on Hess from $106.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Susquehanna raised their price objective on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a report on Monday, April 25th. Barclays raised their price objective on Hess from $131.00 to $153.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, StockNews.com assumed coverage on Hess in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

HES opened at $102.87 on Friday. Hess has a 12-month low of $61.93 and a 12-month high of $131.43. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.15. The business’s fifty day simple moving average is $115.00 and its 200-day simple moving average is $99.34. The company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 44.34 and a beta of 1.66.

Hess (NYSE:HESGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The oil and gas producer reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. Hess had a return on equity of 12.35% and a net margin of 9.01%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business posted $0.82 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Hess will post 8.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a $0.375 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.50 annualized dividend and a dividend yield of 1.46%. Hess’s dividend payout ratio is presently 64.66%.

In related news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the completion of the transaction, the senior vice president now directly owns 95,624 shares of the company’s stock, valued at approximately $12,267,602.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 6,885 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $108.24, for a total value of $745,232.40. The disclosure for this sale can be found here. Insiders sold a total of 56,916 shares of company stock worth $6,859,921 in the last quarter. Company insiders own 9.93% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HES. Norges Bank purchased a new stake in Hess during the 4th quarter valued at approximately $279,973,000. BlackRock Inc. raised its stake in shares of Hess by 14.6% during the 1st quarter. BlackRock Inc. now owns 26,172,982 shares of the oil and gas producer’s stock worth $2,801,554,000 after buying an additional 3,340,817 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Hess by 99.1% during the 1st quarter. Bank of America Corp DE now owns 5,363,237 shares of the oil and gas producer’s stock worth $574,080,000 after buying an additional 2,669,913 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Hess by 27.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 7,148,285 shares of the oil and gas producer’s stock worth $558,353,000 after buying an additional 1,541,044 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Hess during the 4th quarter worth approximately $85,842,000. 82.51% of the stock is owned by hedge funds and other institutional investors.

About Hess (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.

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Analyst Recommendations for Hess (NYSE:HES)

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