Media headlines about Hess (NYSE:HES) have been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Hess earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave media stories about the oil and gas producer an impact score of 45.8787959087764 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:
- Zack Hess pitches 8 shutout innings in Tigers win over A&M (wwl.com)
- How to watch LSU vs. Texas A&M: Game 2 (247sports.com)
- Short film at CIFF features local prodigy Taylor Hess (clevelandjewishnews.com)
- Hess, Duplantis lead LSU by A&M, 4-1, in series opener; game 2 at 6 pm on SEC Network (theadvertiser.com)
- About to Buy Penny Stocks? Look at These 3 Companies First (finance.yahoo.com)
Shares of NYSE:HES traded down $1.45 during trading on Friday, hitting $51.09. The stock had a trading volume of 3,765,660 shares, compared to its average volume of 4,502,438. Hess has a 12-month low of $37.25 and a 12-month high of $55.48. The stock has a market cap of $16,070.88, a price-to-earnings ratio of -11.08 and a beta of 1.45. The company has a quick ratio of 2.43, a current ratio of 2.53 and a debt-to-equity ratio of 0.52.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 19th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, March 16th. Hess’s payout ratio is -21.69%.
Hess declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts recently weighed in on HES shares. Piper Jaffray reaffirmed a “buy” rating and set a $52.00 price objective on shares of Hess in a research report on Friday, February 23rd. Bank of America reissued a “buy” rating and issued a $52.54 price target (down previously from $70.00) on shares of Hess in a report on Friday. Morgan Stanley raised their price target on Hess from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Barclays set a $47.00 price target on Hess and gave the stock a “hold” rating in a report on Sunday, March 4th. Finally, ValuEngine raised Hess from a “sell” rating to a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.63.
In other news, COO Gregory P. Hill sold 7,422 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $48.04, for a total value of $356,552.88. Following the completion of the transaction, the chief operating officer now directly owns 90,600 shares in the company, valued at $4,352,424. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John B. Hess sold 93,712 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.29, for a total value of $4,150,504.48. Following the completion of the transaction, the chief executive officer now owns 1,885,911 shares of the company’s stock, valued at $83,526,998.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,017 shares of company stock valued at $7,981,459. Company insiders own 11.80% of the company’s stock.
Hess Company Profile
Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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