Hess (NYSE:HES) PT Raised to $173.00

Hess (NYSE:HES) had its price target raised by analysts at Piper Sandler from $172.00 to $173.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective indicates a potential upside of 14.02% from the company’s previous close.

Several other equities analysts have also commented on HES. Mizuho increased their target price on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. StockNews.com began coverage on shares of Hess in a report on Wednesday. They set a “sell” rating on the stock. Finally, Susquehanna increased their target price on shares of Hess from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $176.75.

Hess Price Performance

Shares of NYSE:HES traded up $0.93 during trading on Thursday, reaching $151.73. The company had a trading volume of 77,595 shares, compared to its average volume of 2,578,398. The company has a fifty day moving average of $149.60 and a two-hundred day moving average of $146.76. The stock has a market capitalization of $46.75 billion, a P/E ratio of 33.66 and a beta of 1.27. Hess has a 12 month low of $124.27 and a 12 month high of $167.75. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES) 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. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast that Hess will post 8.09 earnings per share for the current year.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Company insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Buckingham Strategic Wealth LLC increased its stake in Hess by 2.5% during the 4th quarter. Buckingham Strategic Wealth LLC now owns 3,015 shares of the oil and gas producer’s stock valued at $435,000 after purchasing an additional 74 shares in the last quarter. Spire Wealth Management increased its stake in Hess by 30.7% during the 3rd quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 75 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Hess by 17.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 77 shares during the period. Harbour Investments Inc. grew its stake in shares of Hess by 24.0% in the first quarter. Harbour Investments Inc. now owns 403 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 78 shares during the period. Finally, Ossiam grew its stake in shares of Hess by 1.0% in the first quarter. Ossiam now owns 8,093 shares of the oil and gas producer’s stock worth $1,071,000 after acquiring an additional 79 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Hess Company Profile

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.