Hess (NYSE:HES) Given New $173.00 Price Target at UBS Group

Hess (NYSE:HES - Get Free Report) had its price objective raised by research analysts at UBS Group from $163.00 to $173.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas producer's stock. UBS Group's price target points to a potential upside of 21.70% from the company's current price.

HES has been the topic of a number of other research reports. Mizuho reduced their target price on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen upgraded Hess to a "sell" rating in a report on Friday, June 6th. Susquehanna reduced their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Scotiabank reduced their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hess presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.16.

Hess Trading Up 0.7%

HES traded up $1.01 during midday trading on Wednesday, reaching $142.15. 2,618,057 shares of the company's stock traded hands, compared to its average volume of 1,796,902. The firm has a fifty day moving average of $132.51 and a two-hundred day moving average of $140.12. The stock has a market capitalization of $43.97 billion, a price-to-earnings ratio of 15.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess has a 52 week low of $123.79 and a 52 week high of $161.69.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company earned $3.16 EPS. The company's revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts anticipate that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 225,000 shares of Hess stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $133.18, for a total value of $29,965,500.00. Following the completion of the sale, the chief executive officer now owns 1,984,679 shares of the company's stock, valued at approximately $264,319,549.22. This trade represents a 10.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 650,000 shares of company stock worth $91,845,500 in the last 90 days. Insiders own 9.10% of the company's stock.

Institutional Investors Weigh In On Hess

Institutional investors have recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new stake in shares of Hess during the fourth quarter valued at $3,117,000. Charles Schwab Investment Management Inc. boosted its position in shares of Hess by 4.7% during the fourth 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 buying an additional 82,703 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Hess by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after buying an additional 1,861 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Hess by 14.7% during the fourth quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock valued at $44,300,000 after buying an additional 42,797 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Hess by 34.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 19,235 shares of the oil and gas producer's stock valued at $2,558,000 after buying an additional 4,891 shares during the last quarter. 88.51% of the stock is owned by hedge funds and other 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.