Hess Co. (NYSE:HES) Receives $165.92 Average Price Target from Analysts

by · The Markets Daily

Shares of Hess Co. (NYSE:HES – Get Free Report) have received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $164.00.

Several research firms recently commented on HES. BMO Capital Markets increased their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Citigroup reduced their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. UBS Group reduced their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank raised their target price on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. Finally, StockNews.com initiated coverage on Hess in a research note on Thursday, October 17th. They issued a “hold” rating for the company.

Check Out Our Latest Stock Analysis on HES

Hedge Funds Weigh In On Hess

A number of hedge funds and other institutional investors have recently bought and sold shares of HES. Bank of New York Mellon Corp boosted its holdings in Hess by 34.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after acquiring an additional 726,631 shares during the period. Hsbc Holdings PLC boosted its holdings in Hess by 76.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock valued at $227,273,000 after acquiring an additional 663,338 shares during the period. Bank of Montreal Can boosted its holdings in Hess by 64.3% during the 2nd quarter. Bank of Montreal Can now owns 1,449,969 shares of the oil and gas producer’s stock valued at $218,220,000 after acquiring an additional 567,550 shares during the period. Marshall Wace LLP boosted its holdings in Hess by 45.6% during the 2nd quarter. Marshall Wace LLP now owns 1,794,087 shares of the oil and gas producer’s stock valued at $264,664,000 after acquiring an additional 561,832 shares during the period. Finally, Sculptor Capital LP boosted its holdings in Hess by 188.7% during the 2nd quarter. Sculptor Capital LP now owns 765,542 shares of the oil and gas producer’s stock valued at $112,933,000 after acquiring an additional 500,342 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Trading Up 0.1 %

Shares of HES stock opened at $139.60 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 21.38 and a beta of 1.15. The stock has a 50 day simple moving average of $135.20 and a 200-day simple moving average of $145.11. Hess has a 1-year low of $123.79 and a 1-year high of $166.50.

Hess (NYSE:HES – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the company earned $0.65 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts expect that Hess will post 10.22 EPS for the current fiscal year.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. This is a boost from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio (DPR) is 30.63%.

Hess Company Profile

(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.

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