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

StockNews.com began coverage on shares of Hess (NYSE:HES - Free Report) in a report issued on Thursday morning. The firm issued a hold rating on the oil and gas producer's stock.

Several other equities analysts also recently commented on the company. Pickering Energy Partners upgraded Hess to a "hold" rating in a research report on Friday, January 3rd. Citigroup boosted their price target on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. UBS Group increased their price objective on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $170.60.

Hess Stock Performance

Shares of NYSE:HES traded down $14.49 during mid-day trading on Thursday, reaching $133.89. 3,995,195 shares of the company traded hands, compared to its average volume of 1,873,512. The company's 50 day moving average price is $148.58 and its 200-day moving average price is $142.62. The firm has a market cap of $41.28 billion, a PE ratio of 14.88 and a beta of 0.88. Hess has a 52 week low of $123.79 and a 52 week high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

Remove Ads

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, equities analysts expect that Hess will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 1.49%. Hess's dividend payout ratio (DPR) is currently 22.22%.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.76% of the company's stock.

Institutional Trading of Hess

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. J.Safra Asset Management Corp purchased a new stake in shares of Hess in the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Hess in the 4th quarter worth about $27,000. Groupama Asset Managment lifted its stake in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 4,186 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Hess during the fourth quarter valued at approximately $33,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Hess during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

About Hess

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.