Hess (NYSE:HES) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

Several other analysts have also recently issued reports on the company. Piper Sandler cut their target price on Hess from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Wells Fargo & Company increased their target price on Hess from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Citigroup increased their target price on Hess from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Susquehanna increased their target price on Hess from $179.00 to $185.00 in a research report on Thursday, January 26th. Finally, Morgan Stanley raised their price target on Hess from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, January 19th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.07.

Hess Stock Down 6.5 %

NYSE HES opened at $116.80 on Thursday. The stock’s 50-day moving average price is $142.77 and its 200-day moving average price is $135.86. The company has a quick ratio of 1.55, a current ratio of 1.64 and a debt-to-equity ratio of 1.00. Hess has a 52 week low of $90.34 and a 52 week high of $160.52. The company has a market capitalization of $35.76 billion, a P/E ratio of 16.24 and a beta of 1.55.

Hess (NYSE:HES – Get Rating) last released its earnings results on Wednesday, January 25th. The oil and gas producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.09. Hess had a return on equity of 27.97% and a net margin of 19.21%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 35.4% on a year-over-year basis. On average, equities research analysts predict that Hess will post 7.13 earnings per share for the current year.

Insider Activity

In other news, CEO John B. Hess sold 109,649 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $144.81, for a total value of $15,878,271.69. Following the completion of the sale, the chief executive officer now directly owns 898,752 shares of the company’s stock, valued at approximately $130,148,277.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John B. Hess sold 109,649 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $144.81, for a total value of $15,878,271.69. Following the completion of the sale, the chief executive officer now directly owns 898,752 shares of the company’s stock, valued at approximately $130,148,277.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew P. Slentz sold 5,701 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $139.46, for a total value of $795,061.46. Following the sale, the senior vice president now directly owns 39,264 shares of the company’s stock, valued at $5,475,757.44. The disclosure for this sale can be found here. Insiders sold 227,720 shares of company stock valued at $32,305,936 in the last ninety days. Insiders own 9.93% of the company’s stock.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. bought a new stake in shares of Hess during the 4th quarter worth approximately $225,000. Victory Capital Management Inc. lifted its stake in shares of Hess by 13.4% during the 4th quarter. Victory Capital Management Inc. now owns 394,342 shares of the oil and gas producer’s stock worth $55,926,000 after acquiring an additional 46,595 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Hess by 21.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 8,206 shares of the oil and gas producer’s stock valued at $1,162,000 after purchasing an additional 1,423 shares in the last quarter. OLD Mission Capital LLC bought a new stake in Hess during the 4th quarter valued at $52,000. Finally, North Star Asset Management Inc. bought a new stake in Hess during the 4th quarter valued at $420,000. 86.06% of the stock is owned by institutional investors.

About Hess

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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.