Hess Co. (NYSE:HES) Receives $172.71 Average PT from Analysts

Shares of Hess Co. (NYSE:HESGet Free Report) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $172.71.

Several analysts have issued reports on the company. Raymond James restated a “market perform” rating on shares of Hess in a research note on Tuesday, October 24th. Argus upgraded Hess from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research note on Tuesday, November 7th. Wells Fargo & Company restated an “equal weight” rating and issued a $171.00 target price (up from $170.00) on shares of Hess in a research note on Tuesday, October 24th. Morgan Stanley lowered their target price on Hess from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Finally, StockNews.com assumed coverage on Hess in a research note on Tuesday. They issued a “sell” rating on the stock.

Check Out Our Latest Research Report on Hess

Hedge Funds Weigh In On Hess

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HES. Victory Capital Management Inc. grew its position in Hess by 581.9% during the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after buying an additional 1,998,824 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in Hess during the fourth quarter worth about $237,100,000. Invesco Ltd. lifted its stake in Hess by 44.1% during the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares during the last quarter. FMR LLC lifted its stake in Hess by 2.4% during the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after purchasing an additional 889,122 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Hess by 703.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,007,485 shares of the oil and gas producer’s stock worth $154,146,000 after purchasing an additional 882,045 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Hess Stock Performance

Shares of Hess stock opened at $143.56 on Thursday. The business’s fifty day simple moving average is $142.24 and its 200 day simple moving average is $148.41. The firm has a market capitalization of $44.09 billion, a P/E ratio of 31.90 and a beta of 1.28. Hess has a 12 month low of $113.82 and a 12 month high of $167.75. The company has a current ratio of 1.05, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HESGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. Hess’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. As a group, analysts anticipate that Hess will post 8.1 EPS for the current year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, December 15th. Hess’s payout ratio is 38.89%.

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

Analyst Recommendations for Hess (NYSE:HES)

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