StockNews.com Initiates Coverage on Hess (NYSE:HES)

Investment analysts at StockNews.com began coverage on shares of Hess (NYSE:HES) in a report issued on Thursday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

HES has been the subject of a number of other research reports. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. UBS Group increased their price objective on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Citigroup boosted their target price on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.60.

Hess Price Performance

Shares of NYSE:HES opened at $133.89 on Thursday. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $41.28 billion, a P/E ratio of 14.88 and a beta of 0.88. The company’s fifty day moving average is $148.37 and its two-hundred day moving average is $142.66.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. Equities analysts expect that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Transactions at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hess

Several hedge funds have recently modified their holdings of HES. Versant Capital Management Inc lifted its stake in shares of Hess by 49.1% in the first quarter. Versant Capital Management Inc now owns 1,154 shares of the oil and gas producer’s stock valued at $184,000 after buying an additional 380 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Hess by 43.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 851 shares of the oil and gas producer’s stock worth $136,000 after acquiring an additional 257 shares during the period. CIBRA Capital Ltd bought a new stake in shares of Hess in the 4th quarter worth approximately $14,324,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hess by 16.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,927 shares of the oil and gas producer’s stock worth $921,000 after purchasing an additional 986 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co bought a new stake in shares of Hess during the fourth quarter valued at approximately $1,210,000. 88.51% of the stock is owned by institutional investors.

About Hess

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.