MKM Partners assumed coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $73.00 price objective on the oil and gas producer’s stock.
HES has been the subject of a number of other research reports. Piper Jaffray Companies restated a hold rating and set a $76.00 price objective on shares of Hess in a research note on Monday, November 19th. Mizuho set a $55.00 price objective on Hess and gave the company a hold rating in a research note on Wednesday, November 28th. Morgan Stanley lowered their price objective on Hess from $92.00 to $91.00 and set a buy rating for the company in a research note on Monday, November 5th. ValuEngine lowered Hess from a buy rating to a hold rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group set a $61.00 price objective on Hess and gave the company a hold rating in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $68.87.
HES stock opened at $52.61 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. Hess has a 1 year low of $40.37 and a 1 year high of $74.81. The stock has a market capitalization of $15.81 billion, a PE ratio of -11.41, a P/E/G ratio of 533.70 and a beta of 1.55.
Hess (NYSE:HES) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.43. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned ($1.07) earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts predict that Hess will post 0.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Hess’s dividend payout ratio (DPR) is presently -21.69%.
In other Hess news, insider Michael R. Turner sold 4,142 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total transaction of $235,348.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.09% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new position in Hess during the 2nd quarter worth approximately $104,000. Palo Capital Inc. bought a new position in Hess during the 3rd quarter worth approximately $116,000. Permanens Capital L.P. bought a new position in Hess during the 3rd quarter worth approximately $136,000. Point72 Hong Kong Ltd bought a new position in Hess during the 3rd quarter worth approximately $131,000. Finally, Atlas Capital Advisors LLC bought a new position in Hess during the 3rd quarter worth approximately $153,000. 87.50% of the stock is currently owned by institutional investors.
Hess Company Profile
Hess Corporation, an exploration and production company, 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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