HES has been the topic of a number of other research reports. Stephens set a $77.00 price objective on shares of Hess and gave the stock a buy rating in a research note on Monday, December 17th. Morgan Stanley set a $63.00 price objective on shares of Hess and gave the stock a buy rating in a research note on Tuesday, January 29th. MKM Partners dropped coverage on shares of Hess in a research note on Wednesday, December 26th. Credit Suisse Group reaffirmed a hold rating and set a $53.00 price objective on shares of Hess in a research note on Wednesday, December 19th. Finally, Zacks Investment Research raised shares of Hess from a strong sell rating to a hold rating in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $69.31.
Shares of NYSE HES opened at $65.54 on Friday. The company has a market cap of $19.87 billion, a PE ratio of -88.57 and a beta of 1.95. Hess has a 12 month low of $35.59 and a 12 month high of $74.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 2.02.
Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 30th. The oil and gas producer reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.10. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.01) EPS. As a group, analysts forecast that Hess will post -0.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. Hess’s dividend payout ratio (DPR) is -135.14%.
In other news, SVP Timothy B. Goodell sold 5,546 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $53.40, for a total transaction of $296,156.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John B. Hess sold 167,834 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $52.84, for a total value of $8,868,348.56. Following the transaction, the chief executive officer now owns 1,871,958 shares in the company, valued at approximately $98,914,260.72. The disclosure for this sale can be found here. Insiders have sold a total of 470,741 shares of company stock worth $25,677,557 in the last quarter. Insiders own 12.09% of the company’s stock.
Large investors have recently made changes to their positions in the company. Loews Corp lifted its position in shares of Hess by 91.2% during the 4th quarter. Loews Corp now owns 11,425 shares of the oil and gas producer’s stock valued at $463,000 after buying an additional 5,450 shares in the last quarter. OLD Dominion Capital Management Inc. lifted its position in shares of Hess by 3.0% during the 4th quarter. OLD Dominion Capital Management Inc. now owns 49,082 shares of the oil and gas producer’s stock valued at $1,988,000 after buying an additional 1,450 shares in the last quarter. Palo Capital Inc. purchased a new position in shares of Hess during the 3rd quarter valued at approximately $116,000. Stone Ridge Asset Management LLC purchased a new position in shares of Hess during the 4th quarter valued at approximately $2,106,000. Finally, Manning & Napier Group LLC lifted its holdings in Hess by 44.6% in the 4th quarter. Manning & Napier Group LLC now owns 33,436 shares of the oil and gas producer’s stock valued at $1,353,000 after purchasing an additional 10,305 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, 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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