Hess Corporation (NYSE:HES) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Hess Corporation (NYSE:HES - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eleven analysts that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $163.16.

Several brokerages have commented on HES. Susquehanna decreased their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. UBS Group raised their price target on shares of Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Scotiabank decreased their price target on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Piper Sandler decreased their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, Mizuho decreased their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th.

Hess Stock Up 0.6%

Shares of NYSE HES opened at $144.51 on Friday. Hess has a 12-month low of $123.79 and a 12-month high of $161.69. The stock has a market cap of $44.70 billion, a PE ratio of 19.99 and a beta of 0.62. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $133.68 and a 200 day moving average of $140.02.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Hess had a return on equity of 21.78% and a net margin of 17.65%. The firm's quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.16 EPS. As a group, sell-side analysts predict that Hess will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. Hess's payout ratio is 27.66%.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 650,000 shares of company stock worth $91,845,500. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently bought and sold shares of HES. Principal Securities Inc. lifted its position in Hess by 276.0% in the fourth quarter. Principal Securities Inc. now owns 722 shares of the oil and gas producer's stock valued at $96,000 after acquiring an additional 530 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Hess in the fourth quarter valued at $764,000. Cassaday & Co Wealth Management LLC increased its stake in Hess by 3.6% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 3,384 shares of the oil and gas producer's stock valued at $450,000 after purchasing an additional 118 shares during the period. Howard Capital Management Inc. increased its stake in Hess by 5.2% in the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock valued at $241,000 after purchasing an additional 90 shares during the period. Finally, Rothschild Investment LLC increased its stake in Hess by 80.0% in the fourth quarter. Rothschild Investment LLC now owns 423 shares of the oil and gas producer's stock valued at $56,000 after purchasing an additional 188 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.