Hess (HES) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Hess (NYSE:HES) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, ValuEngine reports.

HES has been the subject of a number of other reports. Stephens set a $77.00 price target on Hess and gave the company a buy rating in a report on Monday, December 17th. Morgan Stanley set a $63.00 price target on Hess and gave the company a buy rating in a report on Tuesday, January 29th. MKM Partners dropped coverage on Hess in a report on Wednesday, December 26th. Credit Suisse Group reaffirmed a hold rating and issued a $53.00 price target on shares of Hess in a report on Wednesday, December 19th. Finally, Zacks Investment Research raised Hess from a strong sell rating to a hold rating in a report on Wednesday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Hess has an average rating of Hold and a consensus target price of $68.69.

HES stock opened at $66.31 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 2.02. Hess has a fifty-two week low of $35.59 and a fifty-two week high of $74.81. The company has a market cap of $20.03 billion, a P/E ratio of -89.61 and a beta of 1.95.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.10. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.49 billion. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.01) earnings per share. Analysts anticipate that Hess will post -0.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is currently -135.14%.

In other news, Director Risa J. Lavizzo-Mourey acquired 442 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $56.74 per share, with a total value of $25,079.08. Following the completion of the acquisition, the director now owns 42,446 shares of the company’s stock, valued at $2,408,386.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John B. Hess sold 218,220 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.44, for a total value of $12,098,116.80. The disclosure for this sale can be found here. Insiders sold 470,741 shares of company stock valued at $25,677,557 over the last three months. Corporate insiders own 12.09% of the company’s stock.

Several hedge funds have recently bought and sold shares of HES. Standard Life Aberdeen plc boosted its holdings in shares of Hess by 3.4% in the third quarter. Standard Life Aberdeen plc now owns 767,491 shares of the oil and gas producer’s stock valued at $54,941,000 after acquiring an additional 25,029 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Hess during the third quarter worth $255,000. Pacer Advisors Inc. lifted its holdings in shares of Hess by 41.6% during the third quarter. Pacer Advisors Inc. now owns 17,674 shares of the oil and gas producer’s stock worth $1,265,000 after purchasing an additional 5,192 shares during the period. Man Group plc lifted its holdings in shares of Hess by 320.4% during the third quarter. Man Group plc now owns 118,157 shares of the oil and gas producer’s stock worth $8,458,000 after purchasing an additional 90,049 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Hess during the third quarter worth $1,080,000. 90.67% of the stock is owned by institutional investors and hedge funds.

Hess Company Profile

Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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Analyst Recommendations for Hess (NYSE:HES)

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