Hess (NYSE:HES) Price Target Raised to $185.00 at UBS Group

Hess (NYSE:HES) had its target price increased by UBS Group from $173.00 to $185.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the company. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Monday, September 30th. StockNews.com started coverage on shares of Hess in a research report on Tuesday, November 26th. They set a “hold” rating for the company. Mizuho cut their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Citigroup decreased their target price on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler cut their price target on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $164.50.

Hess Stock Up 0.2 %

Shares of NYSE:HES opened at $147.26 on Tuesday. The company’s fifty day moving average is $140.72 and its two-hundred day moving average is $141.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. Hess has a 1-year low of $123.79 and a 1-year high of $163.98. The stock has a market capitalization of $45.37 billion, a price-to-earnings ratio of 17.16 and a beta of 1.17.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Hess’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that Hess will post 9.74 EPS for the current year.

Insider Buying and Selling

In other news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the sale, the chief executive officer now owns 223,147 shares in the company, valued at $31,791,753.09. The trade was a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,370 shares of company stock valued at $45,856,309 over the last quarter. Corporate insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

A number of large investors have recently added to or reduced their stakes in HES. Groupama Asset Managment lifted its position in shares of Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 4,186 shares during the last quarter. Covestor Ltd raised its position in shares of Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Hess during the third quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its position in shares of Hess by 47.6% in 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 during the period. Finally, Eastern Bank purchased a new position in Hess in the 3rd quarter worth about $48,000. 88.51% of the stock is currently owned by institutional investors.

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.