Hess (NYSE:HES) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note published on Wednesday. The firm issued a hold rating on the oil and gas producer’s stock.

A number of other research firms have also weighed in on HES. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. UBS Group upped their price objective on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.60.

Hess Stock Up 1.3 %

NYSE:HES opened at $160.39 on Wednesday. The company has a market cap of $49.45 billion, a PE ratio of 17.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess has a one year low of $123.79 and a one year high of $163.98. The firm’s 50 day simple moving average is $147.45 and its 200 day simple moving average is $141.46.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, research analysts anticipate that Hess will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, March 17th. Hess’s payout ratio is 22.22%.

Hedge Funds Weigh In On Hess

A number of hedge funds and other institutional investors have recently modified their holdings of HES. J.Safra Asset Management Corp bought a new stake in shares of Hess in the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in shares of Hess during the fourth quarter valued at about $27,000. Millstone Evans Group LLC bought a new position in Hess in the fourth quarter worth about $33,000. FSA Wealth Management LLC purchased a new stake in Hess in the third quarter worth $37,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Hess in the 4th quarter worth about $37,000. 88.51% of the stock is currently owned by hedge funds and other 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.