Hess Corp. (NYSE:HES) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.46.
A number of analysts have recently weighed in on the stock. MKM Partners upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, May 28th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley set a $23.00 price objective on shares of Cabot Oil & Gas and gave the stock a “hold” rating in a research note on Monday, June 24th. Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Capital One Financial upgraded shares of Hess from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th.
In related news, insider Andrew P. Slentz sold 2,081 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $62.52, for a total transaction of $130,104.12. Following the sale, the insider now owns 19,119 shares in the company, valued at $1,195,319.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael R. Turner sold 25,170 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $63.20, for a total transaction of $1,590,744.00. Following the sale, the insider now owns 92,812 shares in the company, valued at approximately $5,865,718.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,158 shares of company stock worth $9,196,837. 12.22% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in shares of Hess by 9.3% in the 4th quarter. Raymond James & Associates now owns 65,057 shares of the oil and gas producer’s stock valued at $2,635,000 after purchasing an additional 5,561 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Hess by 1.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,075 shares of the oil and gas producer’s stock worth $2,109,000 after buying an additional 862 shares during the period. GSA Capital Partners LLP raised its stake in Hess by 67.5% during the 4th quarter. GSA Capital Partners LLP now owns 5,959 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 2,402 shares during the period. Northern Trust Corp raised its stake in Hess by 10.9% during the 4th quarter. Northern Trust Corp now owns 3,262,860 shares of the oil and gas producer’s stock worth $132,146,000 after buying an additional 319,916 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Hess by 4.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 52,812 shares of the oil and gas producer’s stock worth $2,139,000 after buying an additional 2,148 shares during the period. Institutional investors own 92.78% of the company’s stock.
Shares of NYSE:HES traded up $0.64 during midday trading on Tuesday, reaching $63.13. The company’s stock had a trading volume of 1,763,570 shares, compared to its average volume of 2,505,991. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of -85.31 and a beta of 1.95. Hess has a twelve month low of $35.59 and a twelve month high of $74.81. The firm has a fifty day moving average price of $59.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 1.57.
Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.35. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.43 billion. Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.27) earnings per share. Equities analysts predict that Hess will post 0.04 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 1.58%. Hess’s dividend payout ratio is presently -135.14%.
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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