Citigroup Trims Hess (NYSE:HES) Target Price to $145.00

Hess (NYSE:HES) had its price target cut by Citigroup from $160.00 to $145.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their price objective on shares of Hess from $205.00 to $210.00 and gave the stock a neutral rating in a research note on Monday, May 13th. UBS Group decreased their target price on shares of Hess from $193.00 to $192.00 and set a buy rating for the company in a research note on Tuesday, August 20th. BMO Capital Markets downgraded shares of Hess to an overweight rating and decreased their target price for the company from $175.00 to $160.00 in a research note on Monday, August 19th. Susquehanna decreased their target price on shares of Hess from $151.00 to $149.00 and set a neutral rating for the company in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of Hess in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hess has an average rating of Hold and an average price target of $174.46.

Hess Price Performance

HES opened at $126.30 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess has a 52-week low of $125.89 and a 52-week high of $167.75. The company has a 50 day moving average of $141.80 and a two-hundred day moving average of $148.24. The company has a market cap of $38.91 billion, a P/E ratio of 19.34 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. Hess’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, analysts expect that Hess will post 11.12 earnings per share for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.58%. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. Hess’s dividend payout ratio is 26.80%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. bought a new position in Hess during the 1st quarter valued at $25,000. Rise Advisors LLC acquired a new stake in shares of Hess during the first quarter worth $27,000. Cape Investment Advisory Inc. acquired a new stake in shares of Hess during the fourth quarter worth $32,000. Riverview Trust Co acquired a new stake in shares of Hess during the first quarter worth $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 88 shares during the period. 88.51% of the stock is currently owned by institutional investors.

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.