Hess - HES Stock Forecast, Price & News

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. Gulf of Mexico, and offshore Suriname and Canada. The company is also involved in gathering, compressing, and processing natural gas; fractionating NGLs; gathering, terminaling, loading, and transporting crude oil and NGL through rail car; and storing and terminaling propane, as well as providing water handling services primarily in the Bakken Shale plays in the Williston Basin area of North Dakota. As of December 31, 2021, it had total proved reserves of 1,309 million barrels of oil equivalent. The company was incorporated in 1920 and is headquartered in New York, New York.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HES. Piper Sandler increased their price objective on shares of Hess from $161.00 to $165.00 and gave the company an "overweight" rating in a report on Tuesday, July 19th. Morgan Stanley cut their price objective on shares of Hess from $141.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Mizuho cut their price target on shares of Hess from $158.00 to $143.00 and set a "buy" rating for the company in a report on Tuesday, July 19th. Susquehanna Bancshares raised their price target on shares of Hess from $118.00 to $138.00 and gave the stock a "positive" rating in a report on Monday, April 25th. Finally, Susquehanna raised their price target on shares of Hess from $118.00 to $138.00 and gave the stock a "positive" rating in a report on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $133.92.

Hess Stock Down 0.8 %

HES Stock traded down $0.88 during midday trading on Tuesday, hitting $110.58. The company's stock had a trading volume of 37,732 shares, compared to its average volume of 1,750,436. The firm has a market capitalization of $34.24 billion, a P/E ratio of 23.60 and a beta of 1.61. The firm has a 50-day simple moving average of $107.05 and a 200-day simple moving average of $106.17. Hess has a 52-week low of $61.93 and a 52-week high of $131.43. The company has a quick ratio of 1.55, a current ratio of 1.69 and a debt-to-equity ratio of 1.10.

Hess (NYSE:HES - Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.60 billion. Hess had a net margin of 15.53% and a return on equity of 20.25%. The company's revenue for the quarter was up 87.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. As a group, equities analysts forecast that Hess will post 9.26 EPS for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a $0.375 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $1.50 dividend on an annualized basis and a yield of 1.36%. Hess's dividend payout ratio is presently 31.85%.

Insider Buying and Selling at Hess

In other Hess news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of Hess stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $128.29, for a total value of $4,651,795.40. Following the transaction, the senior vice president now directly owns 95,624 shares in the company, valued at $12,267,602.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.93% of the stock is currently owned by company insiders.