Hess (NYSE:HES) Price Target Raised to $163.00

Hess (NYSE:HES) had its price objective lifted by analysts at Citigroup from $145.00 to $163.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s target price suggests a potential upside of 15.48% from the company’s current price.

Other research analysts have also issued research reports about the stock. BMO Capital Markets increased their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Scotiabank upped their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Monday, September 30th. Piper Sandler cut their price target on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Finally, Susquehanna increased their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Hess currently has a consensus rating of “Hold” and an average target price of $166.30.

Hess Stock Performance

Shares of HES traded down $3.58 during mid-day trading on Friday, reaching $141.15. The company’s stock had a trading volume of 473,582 shares, compared to its average volume of 2,068,124. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. The stock has a market cap of $43.49 billion, a P/E ratio of 16.45 and a beta of 1.17. Hess has a 1-year low of $123.79 and a 1-year high of $163.98. The business has a 50-day simple moving average of $141.23 and a two-hundred day simple moving average of $141.93.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating the consensus estimate of $1.88 by $0.26. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, equities research analysts anticipate that Hess will post 9.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Hess

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Primecap Management Co. CA lifted its position in shares of Hess by 4.4% during the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock valued at $1,194,619,000 after purchasing an additional 340,490 shares in the last quarter. HBK Investments L P raised its position in Hess by 16.7% in the third 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 during the period. Geode Capital Management LLC raised its position in Hess by 1.1% in the third quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock worth $884,709,000 after acquiring an additional 74,085 shares during the period. Wellington Management Group LLP raised its position in Hess by 58.9% in the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after acquiring an additional 1,391,311 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Hess by 31.0% in 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 acquiring an additional 785,270 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.