Susquehanna Increases Hess (NYSE:HES) Price Target to $164.00

Hess (NYSE:HES) had its price target raised by investment analysts at Susquehanna from $156.00 to $164.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Susquehanna’s price objective indicates a potential upside of 4.47% from the stock’s previous close.

Several other equities research analysts have also issued reports on HES. Piper Sandler upped their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. StockNews.com assumed coverage on shares of Hess in a research report on Wednesday, April 17th. They issued a “sell” rating on the stock. Finally, Mizuho lifted their price target on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hess presently has an average rating of “Hold” and an average price target of $177.42.

Hess Trading Up 0.5 %

NYSE HES opened at $156.98 on Monday. The company has a market capitalization of $48.37 billion, a price-to-earnings ratio of 34.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. Hess has a 12 month low of $124.27 and a 12 month high of $167.75. The company’s fifty day moving average price is $150.49 and its two-hundred day moving average price is $147.01.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. As a group, research analysts predict that Hess will post 8.32 earnings per share for the current fiscal year.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 73,885 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO John B. Hess sold 73,885 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now directly owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 155,798 shares of company stock worth $22,811,166. Company insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Hess by 581.9% in the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after acquiring an additional 1,998,824 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Hess in the 4th quarter worth approximately $237,100,000. Westchester Capital Management LLC acquired a new stake in Hess during the fourth quarter valued at approximately $213,336,000. Invesco Ltd. boosted its holdings in Hess by 44.1% during the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after buying an additional 1,105,204 shares in the last quarter. Finally, FMR LLC grew its position 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 worth $5,697,579,000 after buying an additional 889,122 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Company Profile

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.