Analysts Set Hess Co. (NYSE:HES) Target Price at $162.16

Shares of Hess Co. (NYSE:HES) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $162.16.

Several brokerages recently issued reports on HES. Mizuho dropped their target price on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Scotiabank dropped their target price on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Susquehanna dropped their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler dropped their target price on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th.

Hess Trading Down 1.0%

NYSE:HES opened at $132.32 on Wednesday. The stock has a market cap of $40.93 billion, a price-to-earnings ratio of 14.70 and a beta of 0.61. The company’s 50 day moving average price is $135.08 and its 200-day moving average price is $140.80. Hess has a 52 week low of $123.79 and a 52 week high of $161.69. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Hess will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 1.51%. Hess’s payout ratio is presently 27.66%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 175,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Institutional Trading of Hess

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Hess during the 4th quarter valued at $3,117,000. Manning & Napier Advisors LLC bought a new stake in shares of Hess during the 4th quarter valued at $2,274,000. Charles Schwab Investment Management Inc. raised its position in shares of Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock valued at $244,483,000 after purchasing an additional 82,703 shares during the period. CIBC Asset Management Inc raised its position in shares of Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after purchasing an additional 1,861 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Hess by 14.7% during the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer’s stock valued at $44,300,000 after purchasing an additional 42,797 shares during the period. 88.51% of the stock is currently owned by institutional investors.

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.