Susquehanna Raises Hess (NYSE:HES) Price Target to $164.00

Hess (NYSE:HESFree Report) had its price target boosted by Susquehanna from $156.00 to $164.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

HES has been the topic of a number of other research reports. Mizuho upped their target price on shares of Hess from $200.00 to $205.00 and gave the company a neutral rating in a research report on Wednesday, March 20th. StockNews.com initiated coverage on shares of Hess in a research report on Wednesday, April 17th. They set a sell rating on the stock. Finally, Piper Sandler increased their price target on shares of Hess from $172.00 to $173.00 and gave the stock an overweight rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hess presently has an average rating of Hold and an average price target of $177.42.

Read Our Latest Analysis on HES

Hess Trading Up 1.4 %

NYSE HES opened at $159.13 on Monday. The firm’s 50-day moving average is $150.82 and its two-hundred day moving average is $147.10. Hess has a 12 month low of $124.27 and a 12 month high of $167.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The stock has a market capitalization of $49.03 billion, a P/E ratio of 35.36 and a beta of 1.27.

Hess (NYSE:HESGet Free Report) last posted its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating 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 company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. Hess’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Hess will post 8.32 earnings per share for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.10%. Hess’s payout ratio is 38.89%.

Insider Buying and Selling

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction that occurred on 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 directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the stock in a transaction that occurred on 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 owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,798 shares of company stock worth $22,811,166. Company insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new position in Hess in the third quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Hess in the first quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Hess in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new stake in shares of Hess in the third quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Hess in the fourth quarter valued at approximately $29,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

About Hess

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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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