Hess (NYSE:HES) Given New $173.00 Price Target at Piper Sandler

Hess (NYSE:HES) had its price target hoisted by research analysts at Piper Sandler from $172.00 to $173.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price target would suggest a potential upside of 12.08% from the stock’s previous close.

A number of other brokerages also recently weighed in on HES. StockNews.com started coverage on Hess in a report on Wednesday. They set a “sell” rating for the company. Mizuho increased their price target on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Susquehanna increased their price target on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess currently has a consensus rating of “Hold” and a consensus target price of $176.75.

Hess Stock Up 1.7 %

Shares of NYSE:HES opened at $154.35 on Thursday. The firm has a market cap of $47.56 billion, a P/E ratio of 34.30 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. Hess has a 12-month low of $124.27 and a 12-month high of $167.75. The business has a fifty day simple moving average of $149.96 and a 200 day simple moving average of $146.83.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. Hess’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS. Analysts predict that Hess will post 8.09 earnings per share for the current year.

Insider Activity

In other news, CEO John B. Hess sold 73,885 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now directly owns 138,718 shares in the company, valued at approximately $20,234,794.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Hess news, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $146.35, for a total transaction of $8,330,973.75. Following the completion of the transaction, the chief operating officer now owns 78,287 shares in the company, valued at approximately $11,457,302.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the transaction, the chief executive officer now owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock worth $22,811,166 in the last three months. Company insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Hess during the 3rd quarter worth approximately $26,000. KB Financial Partners LLC bought a new position in shares of Hess during the 1st quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Hess during the 4th quarter worth approximately $27,000. Rise Advisors LLC bought a new position in shares of Hess during the 1st quarter worth approximately $27,000. Finally, Sound Income Strategies LLC bought a new position in shares of Hess during the 4th quarter worth approximately $29,000. 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.