Hess (NYSE:HES) PT Set at $155.00 by Scotiabank

Hess (NYSE:HES) has been given a $155.00 price objective by stock analysts at Scotiabank in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price target indicates a potential upside of 1.12% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Hess from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. UBS Group increased their target price on shares of Hess from $163.00 to $173.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Susquehanna cut their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler increased their target price on shares of Hess from $147.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Hess from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.70.

Hess Stock Performance

NYSE HES opened at $153.28 on Friday. The stock has a market cap of $47.41 billion, a P/E ratio of 21.20 and a beta of 0.62. Hess has a twelve month low of $123.79 and a twelve month high of $161.69. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.71. The company’s 50-day simple moving average is $137.73 and its 200 day simple moving average is $140.88.

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). Hess had a net margin of 17.65% and a return on equity of 21.78%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm earned $3.16 earnings per share. Hess’s quarterly revenue was down 12.1% on a year-over-year basis. As a group, research analysts forecast that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Transactions at Hess

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HES. Vanguard Group Inc. grew its position in shares of Hess by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 34,873,741 shares of the oil and gas producer’s stock valued at $5,570,383,000 after acquiring an additional 1,732,497 shares during the period. GAMMA Investing LLC boosted its holdings in Hess by 16,134.6% in the 1st quarter. GAMMA Investing LLC now owns 1,546,506 shares of the oil and gas producer’s stock valued at $2,470,230,000 after purchasing an additional 1,536,980 shares during the period. Nuveen LLC bought a new stake in Hess in the 1st quarter valued at about $196,457,000. Price T Rowe Associates Inc. MD boosted its holdings in Hess by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,043,488 shares of the oil and gas producer’s stock valued at $326,408,000 after purchasing an additional 992,383 shares during the period. Finally, Symmetry Investments LP raised its position in shares of Hess by 154.1% in the 4th quarter. Symmetry Investments LP now owns 1,381,076 shares of the oil and gas producer’s stock valued at $183,697,000 after buying an additional 837,662 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.