Mizuho Cuts Hess (NYSE:HES) Price Target to $191.00

Hess (NYSE:HES) had its target price reduced by Mizuho from $193.00 to $191.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

HES has been the topic of a number of other research reports. StockNews.com began coverage on shares of Hess in a research report on Tuesday. They set a “hold” rating on the stock. Susquehanna cut their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. UBS Group cut their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Scotiabank cut their target price on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.16.

Hess Stock Performance

Hess stock opened at $134.97 on Tuesday. The company has a 50 day moving average price of $139.44 and a 200-day moving average price of $141.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $161.69. The company has a market capitalization of $41.75 billion, a PE ratio of 15.00 and a beta of 0.61.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business’s revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.16 EPS. As a group, equities analysts forecast that Hess will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Monday, June 16th. Hess’s payout ratio is currently 27.66%.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. The trade was a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.10% of the company’s stock.

Institutional Trading of Hess

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Hess by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 34,873,741 shares of the oil and gas producer’s stock worth $5,570,383,000 after purchasing an additional 1,732,497 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Hess by 6.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer’s stock worth $1,521,499,000 after purchasing an additional 698,866 shares during the last quarter. HBK Investments L P grew its position in Hess by 1.6% during the 1st quarter. HBK Investments L P now owns 7,355,900 shares of the oil and gas producer’s stock worth $1,174,958,000 after purchasing an additional 117,989 shares during the last quarter. Geode Capital Management LLC grew its position in Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer’s stock worth $888,240,000 after purchasing an additional 158,371 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Hess by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer’s stock worth $511,325,000 after purchasing an additional 91,131 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

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.