Hess (NYSE:HES) PT Lowered to $151.00

by · The Cerbat Gem

Hess (NYSE:HES – Free Report) had its price objective reduced by Wells Fargo & Company from $171.00 to $151.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

Several other brokerages also recently issued reports on HES. BMO Capital Markets downgraded Hess to an overweight rating and reduced their price objective for the company from $175.00 to $160.00 in a research report on Monday, August 19th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Wolfe Research initiated coverage on shares of Hess in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Mizuho reduced their price objective on shares of Hess from $210.00 to $194.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Finally, StockNews.com started coverage on shares of Hess in a research note on Friday, June 28th. They issued a hold rating for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $165.15.

Check Out Our Latest Analysis on Hess

Hess Price Performance

Shares of NYSE HES opened at $135.80 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 20.80 and a beta of 1.15. The company’s 50-day moving average price is $135.95 and its 200 day moving average price is $146.47. Hess has a 52 week low of $123.79 and a 52 week high of $167.75.

Hess (NYSE:HES – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company posted $0.65 EPS. The company’s revenue was up 40.3% on a year-over-year basis. As a group, research analysts forecast that Hess will post 10.46 earnings per share for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.47%. Hess’s payout ratio is currently 30.63%.

Institutional Trading of Hess

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Hess by 0.9% during the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after acquiring an additional 294,146 shares during the period. Primecap Management Co. CA grew its holdings in shares of Hess by 4.4% during the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after purchasing an additional 340,490 shares during the period. Bank of New York Mellon Corp increased its position in Hess by 34.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after purchasing an additional 726,631 shares in the last quarter. Legal & General Group Plc increased its position in Hess by 6.6% during the 2nd quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock worth $361,691,000 after purchasing an additional 150,945 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Hess by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock valued at $265,359,000 after buying an additional 181,459 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Company Profile

(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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