Hess (NYSE:HES) Given New $164.00 Price Target at Susquehanna

Hess (NYSE:HES) had its target price lifted by Susquehanna from $156.00 to $164.00 in a research note published on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas producer’s stock.

HES has been the topic of a number of other research reports. StockNews.com started coverage on Hess in a report on Wednesday, April 17th. They set a sell rating on the stock. Mizuho raised their target price on Hess from $200.00 to $205.00 and gave the stock a neutral rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on Hess from $172.00 to $173.00 and gave the company an overweight rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $177.42.

Hess Price Performance

Shares of HES opened at $156.23 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88. Hess has a 1 year low of $124.27 and a 1 year high of $167.75. The stock has a market cap of $48.13 billion, a P/E ratio of 34.72 and a beta of 1.27. The stock’s 50-day moving average price is $150.21 and its two-hundred day moving average price is $146.93.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business earned $1.78 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Hess will post 8.32 earnings per share for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, March 15th. Hess’s payout ratio is 38.89%.

Insider Buying and Selling at Hess

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HES. Victory Capital Management Inc. increased its position in shares of Hess by 581.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after purchasing an additional 1,998,824 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Hess during the 4th quarter worth approximately $237,100,000. Westchester Capital Management LLC acquired a new position in shares of Hess during the 4th quarter worth approximately $213,336,000. Invesco Ltd. increased its position in shares of Hess by 44.1% during the 3rd quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares during the last quarter. Finally, FMR LLC increased its position in shares of Hess by 2.4% during the 3rd quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after purchasing an additional 889,122 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

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.