Macquarie initiated coverage on shares of Hess (NYSE:HES) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $65.00 price objective on the oil and gas producer’s stock.

HES has been the topic of a number of other reports. Morgan Stanley raised their price objective on shares of Hess from $43.00 to $49.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Hess from a hold rating to a buy rating and set a $50.00 price objective on the stock in a report on Wednesday, October 11th. Scotiabank set a $52.00 target price on shares of Hess and gave the company a buy rating in a research report on Wednesday, October 25th. Barclays reaffirmed a hold rating and issued a $49.00 target price on shares of Hess in a research report on Monday, January 8th. Finally, Credit Suisse Group initiated coverage on shares of Hess in a research report on Monday, December 11th. They issued an underperform rating and a $38.00 target price on the stock. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $51.93.

Shares of Hess (HES) traded down $1.23 on Wednesday, hitting $52.61. 9,125,250 shares of the stock were exchanged, compared to its average volume of 3,317,586. Hess has a fifty-two week low of $37.25 and a fifty-two week high of $59.08. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business earned ($1.12) EPS. The company’s revenue was up 39.3% on a year-over-year basis. equities analysts expect that Hess will post -4.65 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, December 15th. Hess’s dividend payout ratio (DPR) is -4.95%.

In related news, COO Gregory P. Hill sold 7,400 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total value of $330,188.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Viking Fund Management LLC purchased a new position in Hess during the 4th quarter worth $3,323,000. State of Alaska Department of Revenue grew its position in Hess by 75.7% during the 4th quarter. State of Alaska Department of Revenue now owns 38,758 shares of the oil and gas producer’s stock worth $1,838,000 after purchasing an additional 16,700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Hess by 5.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,338,560 shares of the oil and gas producer’s stock worth $63,542,000 after purchasing an additional 72,766 shares during the last quarter. National Pension Service grew its position in Hess by 7.7% during the 4th quarter. National Pension Service now owns 323,942 shares of the oil and gas producer’s stock worth $15,378,000 after purchasing an additional 23,081 shares during the last quarter. Finally, Hexavest Inc. grew its position in Hess by 207.6% during the 4th quarter. Hexavest Inc. now owns 830,005 shares of the oil and gas producer’s stock worth $39,400,000 after purchasing an additional 560,177 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

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About Hess

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Analyst Recommendations for Hess (NYSE:HES)

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