Hess (HES) Earns Neutral Rating from MKM Partners
MKM Partners reissued their neutral rating on shares of Hess (NYSE:HES) in a research report released on Tuesday, BenzingaRatingsTable reports. MKM Partners currently has a $71.00 price target on the oil and gas producer’s stock.
A number of other equities analysts also recently weighed in on HES. Stephens set a $77.00 target price on shares of Hess and gave the stock a buy rating in a report on Monday, December 17th. Credit Suisse Group reaffirmed a hold rating and set a $53.00 price objective on shares of Hess in a research report on Wednesday, December 19th. Barclays raised shares of Hess from an equal weight rating to an overweight rating and set a $66.00 price objective for the company in a research report on Thursday, January 10th. They noted that the move was a valuation call. Morgan Stanley set a $63.00 price objective on shares of Hess and gave the stock a buy rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research raised shares of Hess from a strong sell rating to a hold rating in a research report on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hess presently has an average rating of Hold and a consensus target price of $68.69.
NYSE HES opened at $65.86 on Tuesday. The company has a market capitalization of $19.96 billion, a PE ratio of -89.00 and a beta of 1.95. Hess has a 12-month low of $35.59 and a 12-month high of $74.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 2.02.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. Hess’s dividend payout ratio (DPR) is -135.14%.
In other news, insider John P. Rielly sold 3,758 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.90, for a total value of $221,346.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy B. Goodell sold 5,546 shares of the business’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $53.40, for a total transaction of $296,156.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 470,741 shares of company stock valued at $25,677,557. Company insiders own 12.09% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Loews Corp boosted its position in shares of Hess by 91.2% in the fourth quarter. Loews Corp now owns 11,425 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 5,450 shares during the period. OLD Dominion Capital Management Inc. boosted its position in shares of Hess by 3.0% in the fourth quarter. OLD Dominion Capital Management Inc. now owns 49,082 shares of the oil and gas producer’s stock valued at $1,988,000 after acquiring an additional 1,450 shares during the period. Palo Capital Inc. bought a new stake in Hess during the third quarter worth about $116,000. Stone Ridge Asset Management LLC bought a new stake in Hess during the fourth quarter worth about $2,106,000. Finally, Manning & Napier Group LLC lifted its position in Hess by 44.6% during the fourth quarter. Manning & Napier Group LLC now owns 33,436 shares of the oil and gas producer’s stock worth $1,353,000 after purchasing an additional 10,305 shares during the period. 90.67% of the stock is owned by 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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