Several other research analysts have also issued reports on HES. Morgan Stanley set a $69.00 target price on Hess and gave the stock a buy rating in a research report on Monday, June 24th. MKM Partners raised Hess from a neutral rating to a buy rating and set a $75.00 target price for the company in a research report on Tuesday, May 28th. Barclays initiated coverage on Hess in a research report on Monday, August 19th. They set an overweight rating and a $93.00 target price for the company. Wells Fargo & Co reaffirmed a buy rating on shares of Hess in a research report on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $61.00 target price on Hess and gave the stock a hold rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $70.08.
Shares of HES opened at $65.58 on Monday. Hess has a 52 week low of $35.59 and a 52 week high of $74.81. The stock has a market capitalization of $20.64 billion, a price-to-earnings ratio of -88.62 and a beta of 1.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58. The stock has a fifty day moving average of $62.35 and a 200-day moving average of $61.44.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, September 13th. Hess’s dividend payout ratio is currently -135.14%.
In other news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of Hess stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $57.18, for a total value of $417,699.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael R. Turner sold 30,345 shares of Hess stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $65.17, for a total value of $1,977,583.65. Following the completion of the transaction, the insider now directly owns 94,537 shares of the company’s stock, valued at $6,160,976.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,256 shares of company stock valued at $17,990,093. 12.22% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Stephens Inc. AR bought a new position in shares of Hess in the 1st quarter worth about $208,000. Invesco Ltd. raised its position in shares of Hess by 5.8% in the 2nd quarter. Invesco Ltd. now owns 6,584,222 shares of the oil and gas producer’s stock worth $418,559,000 after acquiring an additional 360,041 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Hess by 826.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,723 shares of the oil and gas producer’s stock worth $109,000 after acquiring an additional 1,537 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Hess by 3.2% in the 1st quarter. Nordea Investment Management AB now owns 24,275 shares of the oil and gas producer’s stock worth $1,462,000 after acquiring an additional 745 shares in the last quarter. Finally, Seelaus Asset Management LLC raised its position in shares of Hess by 19.8% in the 2nd quarter. Seelaus Asset Management LLC now owns 4,850 shares of the oil and gas producer’s stock worth $308,000 after acquiring an additional 800 shares in the last quarter. 90.10% of the stock is owned by hedge funds and other institutional investors.
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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