Hess Co. (NYSE:HES) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 6,790,000 shares, a decrease of 17.1% from the March 31st total of 8,190,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is presently 3.0 days.
HES has been the subject of a number of research analyst reports. TheStreet raised Hess from a “d+” rating to a “c-” rating in a report on Wednesday, February 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Hess from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, March 29th. Citigroup increased their price target on shares of Hess from $72.00 to $84.00 in a research note on Tuesday, March 23rd. Piper Sandler boosted their price objective on shares of Hess from $69.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Finally, Zacks Investment Research lowered Hess from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research report on Monday, April 19th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $68.25.
In related news, EVP Timothy B. Goodell sold 18,175 shares of the stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $57.38, for a total transaction of $1,042,881.50. Following the sale, the executive vice president now directly owns 177,483 shares in the company, valued at approximately $10,183,974.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John B. Hess sold 301,760 shares of the firm’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $57.40, for a total value of $17,321,024.00. Following the sale, the chief executive officer now directly owns 1,495,004 shares of the company’s stock, valued at $85,813,229.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 659,283 shares of company stock valued at $40,757,806. Company insiders own 12.22% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vantage Consulting Group Inc acquired a new position in Hess during the fourth quarter worth approximately $25,000. Vectors Research Management LLC bought a new position in shares of Hess during the 4th quarter worth approximately $26,000. JCIC Asset Management Inc. bought a new stake in Hess in the 4th quarter valued at $31,000. Wealthcare Advisory Partners LLC bought a new stake in Hess in the 1st quarter valued at $32,000. Finally, Berman Capital Advisors LLC boosted its position in Hess by 62.4% during the fourth quarter. Berman Capital Advisors LLC now owns 752 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 79.23% of the company’s stock.
Shares of Hess stock traded up $0.21 during trading on Tuesday, hitting $77.16. 2,073,310 shares of the company were exchanged, compared to its average volume of 2,237,666. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.20 and a quick ratio of 1.90. The firm has a market capitalization of $23.80 billion, a P/E ratio of -7.29 and a beta of 2.23. The firm’s fifty day moving average price is $71.13 and its 200 day moving average price is $58.64. Hess has a 1-year low of $34.82 and a 1-year high of $78.37.
Hess (NYSE:HES) last posted its earnings results on Wednesday, April 28th. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.38. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.61 billion. Hess had a negative net margin of 63.27% and a negative return on equity of 11.18%. The business’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same period last year, the business posted ($0.60) earnings per share. As a group, equities research analysts anticipate that Hess will post -2.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Hess’s dividend payout ratio is -105.26%.
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 through two segments, Exploration and Production, and Marketing and Refining. It 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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