Mizuho Issues Pessimistic Forecast for Hess (NYSE:HES) Stock Price

Hess (NYSE:HES - Free Report) had its price target lowered by Mizuho from $193.00 to $191.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer's stock.

Several other equities analysts have also issued reports on HES. UBS Group cut their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. StockNews.com assumed coverage on Hess in a research note on Tuesday. They set a "hold" rating on the stock. Finally, Susquehanna cut their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hess presently has an average rating of "Moderate Buy" and an average target price of $162.16.

Hess Trading Down 0.2%

Shares of HES traded down $0.21 during trading hours on Tuesday, hitting $134.86. 1,688,439 shares of the stock traded hands, compared to its average volume of 1,806,380. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Hess has a 1-year low of $123.79 and a 1-year high of $161.69. The firm has a market capitalization of $41.71 billion, a PE ratio of 14.98 and a beta of 0.61. The business has a fifty day moving average of $139.25 and a 200-day moving average of $141.34.

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

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Insider Transactions at Hess

In related 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 sale, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hess

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP raised its position in Hess by 27.9% in the 1st quarter. Woodline Partners LP now owns 225,850 shares of the oil and gas producer's stock valued at $36,075,000 after buying an additional 49,250 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in Hess in the 1st quarter valued at approximately $325,000. Ascent Group LLC acquired a new stake in Hess in the 1st quarter valued at approximately $3,293,000. United Services Automobile Association acquired a new stake in Hess in the 1st quarter valued at approximately $1,058,000. Finally, Caxton Associates LLP acquired a new stake in Hess in the 1st quarter valued at approximately $52,467,000. Institutional investors and hedge funds own 88.51% of the company's stock.

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.