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

Hess (NYSE:HES) had its price target upped by analysts at UBS Group from $173.00 to $185.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price target suggests a potential upside of 25.88% from the company’s current price.

Several other equities analysts also recently commented on the company. Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Susquehanna boosted their price objective on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Monday, September 30th. Finally, Piper Sandler dropped their target price on shares of Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $164.50.

Hess Stock Down 0.1 %

NYSE:HES traded down $0.22 during trading hours on Tuesday, hitting $146.96. 1,244,486 shares of the company’s stock traded hands, compared to its average volume of 1,543,195. 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 twelve month low of $123.79 and a twelve month high of $163.98. The stock’s fifty day moving average price is $140.49 and its two-hundred day moving average price is $141.97. The firm has a market cap of $45.28 billion, a P/E ratio of 17.13 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. On average, research analysts expect that Hess will post 9.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,370 shares of company stock worth $45,856,309. Insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Hess in the second quarter valued at $6,054,000. Cetera Investment Advisers lifted its holdings in shares of Hess by 424.8% during the first quarter. Cetera Investment Advisers now owns 19,466 shares of the oil and gas producer’s stock worth $2,971,000 after buying an additional 15,757 shares in the last quarter. Calamos Advisors LLC grew its stake in shares of Hess by 2.7% in the second quarter. Calamos Advisors LLC now owns 590,326 shares of the oil and gas producer’s stock valued at $87,085,000 after acquiring an additional 15,684 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Hess by 255.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,836 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 4,911 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in Hess by 295.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 84,277 shares of the oil and gas producer’s stock valued at $11,445,000 after purchasing an additional 62,966 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Company Profile

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.