Hess (NYSE:HES) Price Target Raised to $160.00

Hess (NYSE:HES) had its price objective hoisted by BMO Capital Markets from $155.00 to $160.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

A number of other equities research analysts have also issued reports on HES. Susquehanna dropped their price objective on shares of Hess from $151.00 to $149.00 and set a neutral rating for the company in a report on Wednesday, September 4th. Wolfe Research raised Hess from a peer perform rating to an outperform rating and set a $150.00 target price for the company in a research note on Monday, September 30th. Wells Fargo & Company lowered their price target on Hess from $171.00 to $151.00 and set an equal weight rating for the company in a report on Friday, September 27th. Scotiabank reduced their price objective on shares of Hess from $165.00 to $157.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Finally, StockNews.com began coverage on shares of Hess in a research note on Friday, June 28th. They issued a hold rating on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess currently has an average rating of Moderate Buy and a consensus target price of $165.15.

Hess Trading Down 0.4 %

NYSE HES opened at $140.34 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $135.28 and a two-hundred day simple moving average of $146.18. The stock has a market cap of $43.24 billion, a P/E ratio of 21.49 and a beta of 1.15. Hess has a 12-month low of $123.79 and a 12-month high of $167.75.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 40.3% compared to the same quarter last year. On average, analysts forecast that Hess will post 10.46 earnings per share for the current year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Hess’s dividend payout ratio is 30.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Hess by 27.5% in the 4th quarter. First Trust Advisors LP now owns 358,174 shares of the oil and gas producer’s stock valued at $51,634,000 after purchasing an additional 77,197 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Hess by 178.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 30,745 shares of the oil and gas producer’s stock valued at $4,432,000 after buying an additional 19,702 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Hess by 1.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,756 shares of the oil and gas producer’s stock valued at $1,839,000 after buying an additional 235 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Hess by 137.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 42,535 shares of the oil and gas producer’s stock worth $6,132,000 after buying an additional 24,593 shares in the last quarter. Finally, American International Group Inc. grew its stake in Hess by 0.7% in the fourth quarter. American International Group Inc. now owns 88,545 shares of the oil and gas producer’s stock valued at $12,765,000 after purchasing an additional 648 shares in the last quarter. Institutional investors and hedge funds 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.