Morgan Stanley Analysts Give Hess (NYSE:HES) a $69.00 Price Target

Morgan Stanley set a $69.00 price objective on Hess (NYSE:HES) in a report released on Monday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Several other equities research analysts also recently commented on HES. ValuEngine raised shares of Hess from a hold rating to a buy rating in a report on Saturday, April 13th. MKM Partners reaffirmed a neutral rating and set a $71.00 price objective on shares of Hess in a report on Tuesday, April 16th. Zacks Investment Research raised shares of Hess from a hold rating to a buy rating and set a $72.00 price objective on the stock in a report on Tuesday, April 30th. Finally, Capital One Financial raised shares of Hess from an underweight rating to an equal weight rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $69.46.

NYSE HES opened at $65.38 on Monday. The stock has a market capitalization of $18.69 billion, a P/E ratio of -88.35 and a beta of 1.94. Hess has a 52 week low of $35.59 and a 52 week high of $74.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 1.69. The firm’s 50-day simple moving average is $60.21.

Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.35. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.43 billion. Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) earnings per share. As a group, equities research analysts expect that Hess will post 0.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, June 14th. Hess’s payout ratio is -135.14%.

In related news, insider Michael R. Turner sold 25,170 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $63.20, for a total value of $1,590,744.00. Following the transaction, the insider now directly owns 92,812 shares in the company, valued at $5,865,718.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew P. Slentz sold 2,081 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.52, for a total transaction of $130,104.12. Following the completion of the transaction, the insider now owns 19,119 shares in the company, valued at $1,195,319.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,813 shares of company stock worth $7,219,253. Insiders own 12.22% of the company’s stock.

Several hedge funds have recently bought and sold shares of HES. FMR LLC increased its position in shares of Hess by 66.0% in the first quarter. FMR LLC now owns 31,017,189 shares of the oil and gas producer’s stock worth $1,868,166,000 after purchasing an additional 12,335,629 shares during the last quarter. Norges Bank bought a new position in shares of Hess in the fourth quarter worth approximately $106,016,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Hess by 53.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,563,894 shares of the oil and gas producer’s stock worth $265,837,000 after purchasing an additional 2,284,770 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Hess by 3,900.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock worth $27,000 after purchasing an additional 1,080,934 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Hess by 225.5% in the first quarter. JPMorgan Chase & Co. now owns 1,199,047 shares of the oil and gas producer’s stock worth $72,220,000 after purchasing an additional 830,695 shares during the last quarter. Institutional investors own 92.78% 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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