Hess (NYSE:HES) Price Target Raised to $160.00

Hess (NYSE:HES) had its price objective increased by BMO Capital Markets from $155.00 to $160.00 in a research report report published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas producer’s stock.

Several other research firms have also recently issued reports on HES. Mizuho lowered their price objective on Hess from $210.00 to $194.00 and set a neutral rating for the company in a research report on Monday, September 16th. Citigroup lowered their price target on shares of Hess from $160.00 to $145.00 and set a neutral rating for the company in a report on Thursday, September 5th. Piper Sandler reduced their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Susquehanna lowered their price objective on Hess from $151.00 to $149.00 and set a neutral rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank lowered their price objective on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $165.15.

Hess Stock Performance

NYSE HES opened at $140.34 on Friday. The business has a 50-day moving average price of $135.28 and a 200-day moving average price of $146.18. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess has a twelve month low of $123.79 and a twelve month high of $167.75. The firm has a market cap of $43.24 billion, a price-to-earnings ratio of 21.49 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that Hess will post 10.46 EPS for the current fiscal year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Hess’s payout ratio is presently 30.63%.

Hedge Funds Weigh In On Hess

Large investors have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Hess by 27.5% during the fourth quarter. First Trust Advisors LP now owns 358,174 shares of the oil and gas producer’s stock valued at $51,634,000 after purchasing an additional 77,197 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Hess by 178.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,745 shares of the oil and gas producer’s stock worth $4,432,000 after acquiring an additional 19,702 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Hess by 1.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,756 shares of the oil and gas producer’s stock worth $1,839,000 after purchasing an additional 235 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Hess by 137.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 42,535 shares of the oil and gas producer’s stock valued at $6,132,000 after purchasing an additional 24,593 shares during the period. Finally, American International Group Inc. raised its holdings in Hess by 0.7% during the 4th quarter. American International Group Inc. now owns 88,545 shares of the oil and gas producer’s stock valued at $12,765,000 after acquiring an additional 648 shares during the period. Institutional investors 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.