Hess (NYSE:HES) Given New $185.00 Price Target at UBS Group

Hess (NYSE:HES) had its target price boosted by UBS Group from $173.00 to $185.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other research analysts have also recently weighed in on the company. Mizuho reduced their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Scotiabank lifted their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Monday, September 30th. Citigroup reduced their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Piper Sandler dropped their price objective on shares of Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $164.50.

Hess Trading Up 0.2 %

NYSE HES opened at $147.26 on Tuesday. The company has a market cap of $45.37 billion, a P/E ratio of 17.16 and a beta of 1.17. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. The company has a 50-day moving average of $140.72 and a 200-day moving average of $141.89.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping the consensus estimate of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts predict that Hess will post 9.74 earnings per share for the current year.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This represents a 17.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the sale, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hess

Institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA increased its stake in shares of Hess by 4.4% in the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after buying an additional 340,490 shares during the last quarter. HBK Investments L P grew its holdings in Hess by 16.7% during the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after acquiring an additional 1,017,720 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hess by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock worth $884,709,000 after purchasing an additional 74,085 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after purchasing an additional 1,391,311 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after purchasing an additional 785,270 shares during the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

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.