Hess (NYSE:HES) Hits New 52-Week Low at $124.26

Shares of Hess Co. (NYSE:HES - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $124.26 and last traded at $124.26, with a volume of 185044 shares trading hands. The stock had previously closed at $126.53.

Wall Street Analyst Weigh In

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A number of brokerages recently commented on HES. Citigroup lowered their price target on shares of Hess from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Scotiabank lowered their target price on shares of Hess from $165.00 to $157.00 and set a "sector perform" rating for the company in a research note on Friday, July 12th. Sanford C. Bernstein upgraded shares of Hess from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. StockNews.com assumed coverage on Hess in a research report on Friday, June 28th. They set a "hold" rating for the company. Finally, BMO Capital Markets lowered Hess to an "overweight" rating and lowered their price objective for the stock from $175.00 to $160.00 in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $174.46.

Read Our Latest Stock Analysis on Hess

Hess Trading Down 0.4 %

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The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The business's fifty day simple moving average is $140.97 and its two-hundred day simple moving average is $147.93. The stock has a market capitalization of $38.84 billion, a P/E ratio of 19.38 and a beta of 1.15.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, analysts forecast that Hess Co. will post 11.12 earnings per share for the current year.

Hess Increases Dividend

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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This is an increase from Hess's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.59%. Hess's dividend payout ratio (DPR) is currently 30.63%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Hess in the first quarter worth approximately $25,000. Rise Advisors LLC bought a new position in Hess during the first quarter valued at approximately $27,000. Cape Investment Advisory Inc. purchased a new stake in shares of Hess during the fourth quarter worth about $32,000. Riverview Trust Co purchased a new stake in Hess in the 1st quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer's stock valued at $43,000 after purchasing an additional 88 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Company Profile

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.

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