StockNews.com Initiates Coverage on Hess (NYSE:HES)

Analysts at StockNews.com assumed coverage on shares of Hess (NYSE:HESGet Free Report) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the oil and gas producer’s stock.

Several other equities research analysts also recently commented on HES. Morgan Stanley reduced their target price on shares of Hess from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Wells Fargo & Company restated an “equal weight” rating and set a $171.00 price target (up from $170.00) on shares of Hess in a report on Tuesday, October 24th. Citigroup boosted their price target on Hess from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Raymond James reissued a “market perform” rating on shares of Hess in a research report on Tuesday, October 24th. Finally, Piper Sandler increased their price target on Hess from $167.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.71.

Read Our Latest Analysis on Hess

Hess Price Performance

Shares of HES opened at $145.96 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 1.20. The firm has a fifty day moving average price of $141.94 and a 200 day moving average price of $148.43. Hess has a 1-year low of $113.82 and a 1-year high of $167.75. The stock has a market cap of $44.83 billion, a PE ratio of 32.44 and a beta of 1.28.

Hess (NYSE:HESGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after purchasing an additional 889,122 shares during the period. Vanguard Group Inc. grew its holdings in Hess by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after buying an additional 667,979 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Hess by 4.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock worth $1,191,928,000 after buying an additional 303,942 shares during the period. Bank of New York Mellon Corp raised its position in Hess by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 6,128,507 shares of the oil and gas producer’s stock valued at $833,171,000 after purchasing an additional 438,348 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Hess by 2.0% during the second quarter. Geode Capital Management LLC now owns 5,841,704 shares of the oil and gas producer’s stock worth $792,091,000 after acquiring an additional 113,189 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

About Hess

(Get Free Report)

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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