UBS Group Raises Hess (NYSE:HES) Price Target to $173.00

Hess (NYSE:HES) had its price objective upped by UBS Group from $163.00 to $173.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price objective points to a potential upside of 24.26% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Mizuho dropped their target price on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded Hess to a “sell” rating in a research report on Friday, June 6th. Susquehanna decreased their price objective on Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Piper Sandler dropped their target price on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank cut their price objective on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hess presently has a consensus rating of “Hold” and a consensus target price of $163.16.

Hess Trading Up 1.9%

Shares of HES stock opened at $139.22 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The business has a 50-day moving average of $131.87 and a 200 day moving average of $140.22. The stock has a market capitalization of $43.06 billion, a PE ratio of 15.48 and a beta of 0.62. Hess has a 1-year low of $123.79 and a 1-year high of $161.69.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 EPS. As a group, sell-side analysts anticipate that Hess will post 8.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John B. Hess sold 250,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 accessible through this link. In the last 90 days, insiders have sold 650,000 shares of company stock worth $91,845,500. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Hess

Several institutional investors have recently bought and sold shares of HES. Apollon Wealth Management LLC purchased a new position in Hess in the fourth quarter worth about $302,000. Kestra Private Wealth Services LLC increased its position in Hess by 34.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 19,235 shares of the oil and gas producer’s stock valued at $2,558,000 after acquiring an additional 4,891 shares during the last quarter. Savant Capital LLC raised its stake in shares of Hess by 11.6% in the fourth quarter. Savant Capital LLC now owns 4,088 shares of the oil and gas producer’s stock valued at $544,000 after acquiring an additional 425 shares during the period. Sapient Capital LLC boosted its stake in shares of Hess by 5.4% during the 4th quarter. Sapient Capital LLC now owns 3,867 shares of the oil and gas producer’s stock worth $514,000 after purchasing an additional 199 shares during the period. Finally, Quent Capital LLC lifted its position in shares of Hess by 15.0% during the fourth quarter. Quent Capital LLC now owns 1,050 shares of the oil and gas producer’s stock worth $140,000 after purchasing an additional 137 shares during 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.