Hess Corp. (NYSE:HES) has received an average rating of “Buy” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.25.

A number of equities research analysts recently commented on HES shares. Morgan Stanley increased their target price on shares of Hess from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. BMO Capital Markets raised shares of Hess from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $70.00 to $47.00 in a research report on Monday, March 16th. Wells Fargo & Co decreased their target price on shares of Hess from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. Citigroup raised shares of Hess from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $60.00 in a research report on Tuesday, June 2nd. Finally, Raymond James decreased their target price on shares of Hess from $70.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th.

Shares of HES traded up $1.46 during mid-day trading on Tuesday, hitting $49.94. The company’s stock had a trading volume of 1,638,100 shares, compared to its average volume of 3,654,898. The company’s 50-day moving average is $49.44 and its 200-day moving average is $51.83. Hess has a 52-week low of $26.06 and a 52-week high of $74.11. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of -5.30 and a beta of 2.25. The company has a current ratio of 2.19, a quick ratio of 2.07 and a debt-to-equity ratio of 1.07.

Hess (NYSE:HES) last posted its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.60) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.05. Hess had a negative net margin of 45.64% and a negative return on equity of 5.06%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. Hess’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, sell-side analysts predict that Hess will post -2.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Hess’s payout ratio is currently -105.26%.

In other news, COO Gregory P. Hill sold 19,500 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $51.68, for a total value of $1,007,760.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew P. Slentz sold 4,200 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $57.58, for a total transaction of $241,836.00. The disclosure for this sale can be found here. 11.39% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust purchased a new position in shares of Hess in the first quarter worth about $25,000. Royal Fund Management LLC purchased a new position in shares of Hess in the first quarter worth about $26,000. Founders Capital Management lifted its stake in shares of Hess by 60.0% in the first quarter. Founders Capital Management now owns 800 shares of the oil and gas producer’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Hess by 89,000.0% in the first quarter. Harbor Investment Advisory LLC now owns 891 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 890 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Hess in the fourth quarter worth about $16,177,000. Institutional investors own 87.45% of the company’s stock.

Hess Company Profile

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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Analyst Recommendations for Hess (NYSE:HES)

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