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

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

Several other analysts have also recently issued reports on HES. Scotiabank cut their target price on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research report on Friday, April 11th. UBS Group cut their target price on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Susquehanna cut their target price on Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and a consensus price target of $164.46.

Hess Stock Performance

Shares of HES opened at $133.84 on Friday. 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 business has a 50-day simple moving average of $143.23 and a two-hundred day simple moving average of $141.96. The stock has a market cap of $41.26 billion, a price-to-earnings ratio of 14.87 and a beta of 0.88. Hess has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings results 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%. On average, analysts expect that Hess will post 8.08 EPS for the current year.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Hess by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer’s stock worth $4,408,117,000 after purchasing an additional 296,406 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Hess by 6.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer’s stock worth $1,521,499,000 after purchasing an additional 698,866 shares during the period. HBK Investments L P increased its holdings in Hess by 1.7% during the 4th quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer’s stock worth $962,715,000 after purchasing an additional 120,091 shares during the period. Geode Capital Management LLC increased its holdings in Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer’s stock worth $888,240,000 after purchasing an additional 158,371 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Hess by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer’s stock worth $511,325,000 after purchasing an additional 91,131 shares during the period. 88.51% of the stock is owned by institutional investors.

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 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.