Hess (NYSE:HES) PT Lowered to $173.00

Hess (NYSE:HES) had its price target decreased by UBS Group from $192.00 to $173.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the oil and gas producer’s stock.

A number of other analysts have also commented on the company. BMO Capital Markets lowered Hess to an overweight rating and lowered their price objective for the stock from $175.00 to $160.00 in a research report on Monday, August 19th. Scotiabank lowered their price objective on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Sanford C. Bernstein upgraded Hess from a market perform rating to an outperform rating and lifted their price objective for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Piper Sandler lowered their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Finally, Citigroup lowered their price objective on Hess from $160.00 to $145.00 and set a neutral rating for the company in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $171.31.

Hess Stock Performance

Shares of NYSE:HES opened at $134.40 on Wednesday. Hess has a twelve month low of $123.79 and a twelve month high of $167.75. The firm has a market cap of $41.41 billion, a PE ratio of 20.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. The business has a fifty day moving average of $138.17 and a 200-day moving average of $147.00.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. On average, equities research analysts predict that Hess will post 11.04 EPS for the current fiscal year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 30.63%.

Hedge Funds Weigh In On Hess

Institutional investors have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in shares of Hess during the 1st quarter valued at about $25,000. Rise Advisors LLC bought a new position in shares of Hess during the 1st quarter valued at about $27,000. Cape Investment Advisory Inc. bought a new position in shares of Hess during the 4th quarter valued at about $32,000. Riverview Trust Co bought a new position in shares of Hess during the 1st quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

About Hess

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.