Hess (NYSE:HES) Research Coverage Started at StockNews.com

Posted by Defense World Staff on May 3rd, 2024

StockNews.com started coverage on shares of Hess (NYSE:HES – Get Free Report) in a research report issued on Friday. The firm set a “sell” rating on the oil and gas producer’s stock.

Several other equities research analysts have also weighed in on the stock. Mizuho increased their price objective on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Susquehanna increased their price objective on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $177.42.

Get Our Latest Report on Hess

Hess Stock Performance

Shares of Hess stock opened at $158.56 on Friday. The firm has a market cap of $48.85 billion, a PE ratio of 24.28 and a beta of 1.24. The firm’s 50-day simple moving average is $152.23 and its 200-day simple moving average is $147.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 1.23. Hess has a 1 year low of $124.27 and a 1 year high of $167.75.

Hess (NYSE:HES – Get Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. Equities analysts forecast that Hess will post 9.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares in the company, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hess by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after purchasing an additional 8,439 shares during the last quarter. Arvest Investments Inc. acquired a new stake in Hess during the fourth quarter valued at approximately $1,407,000. Exchange Traded Concepts LLC lifted its stake in Hess by 1,456.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after purchasing an additional 7,022 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Hess during the fourth quarter valued at approximately $967,000. Finally, Miller Howard Investments Inc. NY lifted its stake in Hess by 75.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock valued at $5,658,000 after purchasing an additional 16,861 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

About Hess

(Get Free Report)

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.

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