HES has been the topic of a number of other research reports. Capital One Financial reaffirmed an underweight rating on shares of Hess in a research note on Friday. Macquarie cut shares of Hess from an outperform rating to a neutral rating in a research note on Thursday, April 26th. They noted that the move was a valuation call. Barclays set a $47.00 price objective on shares of Hess and gave the stock a hold rating in a research note on Sunday, March 4th. UBS Group initiated coverage on shares of Hess in a research note on Wednesday, March 7th. They set a neutral rating and a $50.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Hess from a hold rating to a buy rating and set a $70.00 price objective on the stock in a research note on Tuesday, June 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $53.90.
Shares of Hess opened at $64.89 on Friday, MarketBeat reports. Hess has a twelve month low of $37.25 and a twelve month high of $68.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.51 and a current ratio of 2.63. The company has a market capitalization of $20.07 billion, a P/E ratio of -14.08 and a beta of 1.46.
Hess declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Monday, June 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. Hess’s dividend payout ratio (DPR) is -21.69%.
Several large investors have recently made changes to their positions in the company. Commerce Bank lifted its position in shares of Hess by 11.6% during the 1st quarter. Commerce Bank now owns 8,876 shares of the oil and gas producer’s stock valued at $450,000 after buying an additional 926 shares in the last quarter. First Republic Investment Management Inc. lifted its position in shares of Hess by 23.1% during the 1st quarter. First Republic Investment Management Inc. now owns 6,838 shares of the oil and gas producer’s stock valued at $346,000 after buying an additional 1,282 shares in the last quarter. Meadow Creek Investment Management LLC lifted its position in shares of Hess by 9.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 17,578 shares of the oil and gas producer’s stock valued at $834,000 after buying an additional 1,496 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Hess by 47.3% during the 4th quarter. Advisor Group Inc. now owns 4,690 shares of the oil and gas producer’s stock valued at $223,000 after buying an additional 1,505 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. lifted its position in shares of Hess by 2.2% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 78,548 shares of the oil and gas producer’s stock valued at $3,976,000 after buying an additional 1,695 shares in the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.
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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