Hess (NYSE:HES) Price Target Lowered to $184.00 at Wells Fargo & Company

Hess (NYSE:HES - Get Free Report) had its price objective lowered by research analysts at Wells Fargo & Company from $193.00 to $184.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. Wells Fargo & Company's price target would indicate a potential upside of 31.98% from the stock's previous close.

Several other brokerages have also recently commented on HES. Mizuho decreased their target price on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Susquehanna reduced 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. Piper Sandler decreased their price objective on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Hess from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Scotiabank reduced their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $162.26.

Hess Price Performance

Shares of HES traded up $1.30 during trading hours on Thursday, hitting $139.42. 191,165 shares of the company were exchanged, compared to its average volume of 1,782,589. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market capitalization of $43.12 billion, a PE ratio of 19.28 and a beta of 0.62. The firm has a fifty day simple moving average of $134.39 and a 200-day simple moving average of $139.97. Hess has a one year low of $123.79 and a one year high of $161.69.

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

Insider Activity at Hess

In related news, CEO John B. Hess sold 250,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $136.01, for a total value of $34,002,500.00. Following the transaction, the chief executive officer now owns 1,734,679 shares in the company, valued at approximately $235,933,690.79. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.10% of the company's stock.

Institutional Trading of Hess

Several large investors have recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its stake in shares of Hess by 276.0% in the 4th quarter. Principal Securities Inc. now owns 722 shares of the oil and gas producer's stock valued at $96,000 after purchasing an additional 530 shares during the last quarter. Rothschild Investment LLC raised its holdings in Hess by 80.0% during the fourth quarter. Rothschild Investment LLC now owns 423 shares of the oil and gas producer's stock valued at $56,000 after buying an additional 188 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hess by 46.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer's stock worth $389,787,000 after buying an additional 927,093 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Hess during the 4th quarter worth about $233,000. Finally, Checchi Capital Advisers LLC increased its holdings in shares of Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock valued at $287,000 after acquiring an additional 72 shares during the last quarter. 88.51% of the stock is owned by 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.

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