Hess (NYSE:HES) Price Target Lowered to $105.00 at Barclays

Hess (NYSE:HES) had its price target reduced by Barclays from $106.00 to $105.00 in a research report sent to investors on Tuesday morning, Price Targets.com reports. Barclays currently has an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts have also issued reports on HES. Morgan Stanley decreased their target price on shares of Hess from $117.00 to $114.00 and set an overweight rating for the company in a research note on Monday, December 13th. The Goldman Sachs Group reaffirmed a buy rating and issued a $118.00 price objective (up previously from $106.00) on shares of Hess in a research note on Thursday, October 21st. Citigroup reduced their price objective on shares of Hess from $92.00 to $89.00 in a research note on Monday, January 3rd. Mizuho lifted their price objective on shares of Hess from $130.00 to $132.00 and gave the company a buy rating in a research note on Tuesday, November 30th. Finally, Raymond James lifted their price objective on shares of Hess from $95.00 to $112.00 and gave the company an outperform rating in a research note on Tuesday, October 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Hess has a consensus rating of Buy and a consensus target price of $102.00.

Shares of NYSE:HES opened at $91.78 on Tuesday. The firm has a fifty day moving average of $79.30 and a two-hundred day moving average of $78.13. The firm has a market capitalization of $28.43 billion, a P/E ratio of 145.68 and a beta of 1.98. Hess has a 12-month low of $53.43 and a 12-month high of $93.37. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 1.31.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 27th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.52 billion. Hess had a net margin of 2.92% and a return on equity of 3.66%. The company’s quarterly revenue was up 54.0% on a year-over-year basis. During the same period last year, the business earned ($0.71) EPS. Equities research analysts expect that Hess will post 2.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Hess’s payout ratio is 158.73%.

In other news, COO Gregory P. Hill sold 3,600 shares of the business’s stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $81.35, for a total transaction of $292,860.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 12.22% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Spire Wealth Management increased its holdings in shares of Hess by 87.8% during the 4th quarter. Spire Wealth Management now owns 1,046 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 489 shares during the period. Clarus Wealth Advisors bought a new stake in Hess in the fourth quarter valued at about $205,000. First Hawaiian Bank bought a new stake in Hess in the fourth quarter valued at about $1,470,000. DNB Asset Management AS increased its stake in Hess by 9.3% in the fourth quarter. DNB Asset Management AS now owns 42,064 shares of the oil and gas producer’s stock valued at $3,114,000 after acquiring an additional 3,578 shares during the period. Finally, Jefferies Group LLC increased its stake in Hess by 59.5% in the third quarter. Jefferies Group LLC now owns 222,698 shares of the oil and gas producer’s stock valued at $17,395,000 after acquiring an additional 83,091 shares during the period. Institutional investors own 82.27% of the company’s stock.

Hess Company Profile

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.

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