Susquehanna Boosts Hess (NYSE:HES) Price Target to $167.00

Hess (NYSE:HES - Free Report) had its target price raised by Susquehanna from $164.00 to $167.00 in a report issued on Thursday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas producer's stock.

Several other analysts also recently weighed in on the stock. StockNews.com began coverage on shares of Hess in a research note on Saturday, May 11th. They set a sell rating for the company. Mizuho raised their target price on shares of Hess from $205.00 to $210.00 and gave the company a neutral rating in a research report on Monday. Finally, Piper Sandler lifted their price target on Hess from $172.00 to $173.00 and gave the company an overweight rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Hess has an average rating of Hold and an average price target of $178.08.

Hess Stock Performance

HES stock traded down $0.41 on Thursday, hitting $156.31. The company had a trading volume of 2,205,554 shares, compared to its average volume of 2,609,663. The stock has a market cap of $48.16 billion, a price-to-earnings ratio of 24.00 and a beta of 1.24. Hess has a 12-month low of $124.27 and a 12-month high of $167.75. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The stock's 50-day simple moving average is $154.45 and its 200 day simple moving average is $147.26.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company's revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Hess will post 9.54 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.4375 per share. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.12%. Hess's payout ratio is 26.80%.

Insider Activity

In other Hess news, CEO John B. Hess sold 73,885 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the sale, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Hess news, CEO John B. Hess sold 73,885 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company's stock, valued at $20,234,794.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HES. NBC Securities Inc. purchased a new position in shares of Hess during the 3rd quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Hess in the fourth quarter worth $27,000. Rise Advisors LLC acquired a new stake in Hess in the first quarter valued at $27,000. Sound Income Strategies LLC purchased a new stake in shares of Hess during the 4th quarter worth $29,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Hess during the 3rd quarter worth $30,000. 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.