Hess (NYSE:HES) Price Target Lowered to $184.00 at Wells Fargo & Company

Hess (NYSE:HES) had its price target cut by Wells Fargo & Company from $193.00 to $184.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler reduced their price objective on Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. UBS Group increased their price target on Hess from $163.00 to $173.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Scotiabank decreased their price objective on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a report on Friday, April 11th. Mizuho lowered their price objective on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Hess from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.26.

Hess Stock Up 1.5%

Shares of HES opened at $140.12 on Thursday. The firm has a fifty day moving average price of $134.58 and a 200-day moving average price of $139.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $43.34 billion, a P/E ratio of 19.38 and a beta of 0.62. Hess has a 12-month low of $123.79 and a 12-month high of $161.69.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Hess had a net margin of 17.65% and a return on equity of 21.78%. Hess’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period last year, the firm earned $3.16 earnings per share. Equities research analysts expect that Hess will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, June 16th. Hess’s dividend payout ratio (DPR) is presently 27.66%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the sale, the chief executive officer now owns 1,734,679 shares of the company’s stock, valued at approximately $235,933,690.79. The trade was a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Hess in the 1st quarter valued at $30,820,000. Ellsworth Advisors LLC grew its stake in Hess by 19.3% during the 1st quarter. Ellsworth Advisors LLC now owns 6,002 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 973 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Hess by 7.3% in the first quarter. Intech Investment Management LLC now owns 13,861 shares of the oil and gas producer’s stock valued at $2,214,000 after purchasing an additional 945 shares during the period. Integrity Alliance LLC. purchased a new position in shares of Hess in the first quarter worth about $236,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Hess in the first quarter worth about $64,000. Hedge funds and other 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.