Hess (NYSE:HES) Price Target Raised to $49.00 at UBS Group

Hess (NYSE:HES) had its target price increased by UBS Group from $37.00 to $49.00 in a report issued on Monday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the company. Citigroup raised Hess from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $60.00 in a research note on Tuesday, June 2nd. Goldman Sachs Group raised Hess from a neutral rating to a buy rating and set a $50.00 price objective for the company in a research note on Monday, March 16th. Morgan Stanley raised their price objective on Hess from $48.00 to $49.00 and gave the stock an overweight rating in a research note on Tuesday, May 19th. Susquehanna Bancshares raised their price objective on Hess from $45.00 to $54.00 in a research note on Friday, May 8th. Finally, Wells Fargo & Co reduced their price objective on Hess from $59.00 to $57.00 and set an overweight rating for the company in a research note on Friday, April 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $60.25.

Shares of NYSE HES opened at $51.49 on Monday. The stock has a fifty day moving average price of $49.60 and a two-hundred day moving average price of $51.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.07 and a current ratio of 2.19. The firm has a market cap of $15.91 billion, a P/E ratio of -5.46 and a beta of 2.26. Hess has a 1 year low of $26.06 and a 1 year high of $74.11.

Hess (NYSE:HES) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. Hess had a negative return on equity of 5.06% and a negative net margin of 45.64%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, research analysts predict that Hess will post -1.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, June 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. Hess’s dividend payout ratio is -105.26%.

In related news, SVP Andrew P. Slentz sold 4,200 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $57.58, for a total transaction of $241,836.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory P. Hill sold 19,500 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $51.68, for a total value of $1,007,760.00. The disclosure for this sale can be found here. 12.22% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in HES. Piedmont Investment Advisors Inc. raised its holdings in shares of Hess by 22.1% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,913 shares of the oil and gas producer’s stock worth $328,000 after acquiring an additional 889 shares in the last quarter. Prudential Financial Inc. raised its holdings in Hess by 3.7% during the fourth quarter. Prudential Financial Inc. now owns 244,560 shares of the oil and gas producer’s stock valued at $16,339,000 after buying an additional 8,750 shares in the last quarter. Eaton Vance Management raised its holdings in Hess by 97.6% during the fourth quarter. Eaton Vance Management now owns 198,455 shares of the oil and gas producer’s stock valued at $13,259,000 after buying an additional 98,006 shares in the last quarter. Doyle Wealth Management bought a new position in Hess during the fourth quarter valued at about $200,000. Finally, Paradigm Asset Management Co. LLC raised its holdings in Hess by 5.3% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 15,830 shares of the oil and gas producer’s stock valued at $1,058,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.

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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