Hess Corporation (NYSE:HES) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Hess Corporation (NYSE:HES) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $162.7778.

Several research firms have recently weighed in on HES. Wells Fargo & Company cut their target price on Hess from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Piper Sandler boosted their target price on Hess from $147.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 2nd. Susquehanna cut their target price on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Scotiabank boosted their target price on Hess from $146.58 to $155.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, Mizuho cut their target price on Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th.

Hess Stock Performance

NYSE HES opened at $160.31 on Monday. The company has a market cap of $49.59 billion, a P/E ratio of 22.17 and a beta of 0.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 1.08. The business’s 50 day moving average price is $148.09 and its 200-day moving average price is $143.22. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $161.69.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Hess’s payout ratio is presently 27.66%.

Insider Transactions at Hess

In other Hess news, CEO John B. Hess sold 250,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $136.01, for a total value of $34,002,500.00. Following the completion of the sale, the chief executive officer directly owned 1,734,679 shares in the company, valued at approximately $235,933,690.79. This represents a 12.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hess

Several hedge funds have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Hess during the 1st quarter worth $25,000. ORG Partners LLC purchased a new stake in shares of Hess during the 2nd quarter worth $25,000. Hantz Financial Services Inc. lifted its stake in shares of Hess by 317.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 188 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Global X Japan Co. Ltd. lifted its stake in shares of Hess by 106.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 103 shares during the last quarter. Finally, Capital Analysts LLC lifted its stake in shares of Hess by 367.4% during the 1st quarter. Capital Analysts LLC now owns 201 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 158 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other 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.