Hess (NYSE:HES - Get Free Report) had its price objective boosted by equities researchers at Piper Sandler from $147.00 to $153.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas producer's stock. Piper Sandler's target price points to a potential upside of 7.43% from the stock's previous close.
A number of other equities analysts also recently commented on the company. Wells Fargo & Company decreased their target price on Hess from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Susquehanna decreased their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. UBS Group lifted their target price on shares of Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Mizuho reduced their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, 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 note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.86.
Read Our Latest Stock Analysis on HES
Hess Trading Up 0.9%
Shares of HES stock traded up $1.27 during mid-day trading on Wednesday, reaching $142.42. The stock had a trading volume of 717,769 shares, compared to its average volume of 2,003,735. The firm has a market capitalization of $44.05 billion, a PE ratio of 19.70 and a beta of 0.62. The stock's 50-day moving average price is $135.21 and its two-hundred day moving average price is $139.90. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. Hess has a 52-week low of $123.79 and a 52-week high of $161.69.
Hess (NYSE:HES - Get Free Report) last posted its 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 return on equity of 21.78% and a net margin of 17.65%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm's revenue for the quarter was down 12.1% compared to the same quarter last year. Equities analysts expect that Hess will post 8.08 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO John B. Hess sold 250,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,734,679 shares in the company, valued at $235,933,690.79. This trade represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.10% of the company's stock.
Hedge Funds Weigh In On Hess
A number of hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in shares of Hess in the fourth quarter worth approximately $259,000. SVB Wealth LLC purchased a new position in Hess in the 4th quarter worth approximately $335,000. Fisher Asset Management LLC raised its holdings in Hess by 23.2% in the 4th quarter. Fisher Asset Management LLC now owns 3,618 shares of the oil and gas producer's stock worth $481,000 after acquiring an additional 681 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Hess by 61.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,478 shares of the oil and gas producer's stock valued at $193,000 after acquiring an additional 562 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Hess during the 4th quarter valued at $49,000. Institutional investors own 88.51% of the company's stock.
About Hess
(
Get Free Report)
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.
Further Reading
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.
Before you consider Hess, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess wasn't on the list.
While Hess currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
