UBS Group Has Lowered Expectations for Hess (NYSE:HES) Stock Price

Hess (NYSE:HES) had its price objective lowered by stock analysts at UBS Group from $170.00 to $163.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price objective would suggest a potential upside of 24.85% from the company’s current price.

A number of other equities research analysts have also commented on the company. Scotiabank lowered their price target 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. StockNews.com initiated coverage on shares of Hess in a research note on Friday, April 11th. They issued a “hold” rating for the company. Finally, Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. Six research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $166.26.

Hess Price Performance

Shares of HES opened at $130.56 on Wednesday. The stock has a market cap of $40.25 billion, a P/E ratio of 14.51 and a beta of 0.88. The business’s fifty day moving average is $145.47 and its 200 day moving average is $142.35. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess has a 12-month low of $123.79 and a 12-month high of $163.98.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Sell-side analysts anticipate that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Hess

Institutional investors and hedge funds have recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in Hess by 1.5% in the 3rd quarter. MML Investors Services LLC now owns 8,098 shares of the oil and gas producer’s stock valued at $1,100,000 after purchasing an additional 121 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Hess in the 3rd quarter worth about $232,000. Tidal Investments LLC raised its holdings in shares of Hess by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 19,830 shares of the oil and gas producer’s stock valued at $2,693,000 after acquiring an additional 757 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Hess by 20.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock valued at $169,767,000 after acquiring an additional 208,996 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Hess during the third quarter worth about $23,765,000. 88.51% of the stock is owned by hedge funds and other 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.