Hess Corp. (NYSE:HES) has been assigned a consensus recommendation of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $52.16.
Several research firms have recently commented on HES. BMO Capital Markets reissued a “hold” rating and issued a $50.00 target price on shares of Hess in a research note on Thursday, January 11th. Macquarie began coverage on Hess in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $65.00 target price for the company. Morgan Stanley raised their price target on Hess from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Barclays restated a “hold” rating and issued a $49.00 price target on shares of Hess in a research report on Monday, January 8th. Finally, UBS began coverage on Hess in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $50.00 price target on the stock.
In other Hess news, CEO John B. Hess sold 51,014 shares of Hess stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $48.63, for a total transaction of $2,480,810.82. Following the transaction, the chief executive officer now directly owns 1,813,548 shares in the company, valued at $88,192,839.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John B. Hess sold 93,712 shares of Hess stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.29, for a total value of $4,150,504.48. Following the transaction, the chief executive officer now owns 1,885,911 shares in the company, valued at $83,526,998.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,017 shares of company stock worth $7,981,459. Corporate insiders own 11.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HES. CoreCommodity Management LLC bought a new stake in shares of Hess during the fourth quarter worth approximately $108,000. Tower Research Capital LLC TRC boosted its holdings in shares of Hess by 453.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the oil and gas producer’s stock worth $126,000 after acquiring an additional 2,172 shares during the period. NuWave Investment Management LLC bought a new stake in shares of Hess during the fourth quarter worth approximately $141,000. Icon Wealth Partners LLC bought a new stake in shares of Hess during the fourth quarter worth approximately $145,000. Finally, Exane Derivatives boosted its holdings in shares of Hess by 65.2% during the fourth quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock worth $168,000 after acquiring an additional 1,395 shares during the period. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
HES stock traded down $0.64 during midday trading on Wednesday, hitting $49.46. The stock had a trading volume of 4,423,112 shares, compared to its average volume of 4,243,165. The firm has a market cap of $15,784.18, a PE ratio of -3.77 and a beta of 1.60. Hess has a one year low of $37.25 and a one year high of $55.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 2.43.
Hess (NYSE:HES) last released its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business posted ($1.01) earnings per share. equities research analysts forecast that Hess will post -1.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 19th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, March 16th. This represents a $1.00 annualized dividend and a yield of 2.02%. Hess’s dividend payout ratio is presently -7.62%.
Hess declared that its board has authorized a stock buyback program on Thursday, March 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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Hess Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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