Fintel reports that on September 18, 2023, Mizuho maintained coverage of Hess (NYSE:HES) with a Neutral recommendation.
Analyst Price Forecast Suggests 6.90% Upside
As of August 31, 2023, the average one-year price target for Hess is 171.41. The forecasts range from a low of 151.50 to a high of $216.30. The average price target represents an increase of 6.90% from its latest reported closing price of 160.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hess is 11,461MM, an increase of 8.79%. The projected annual non-GAAP EPS is 9.61.
Hess Declares $0.44 Dividend
On September 6, 2023 the company declared a regular quarterly dividend of $0.44 per share ($1.75 annualized). Shareholders of record as of September 18, 2023 will receive the payment on September 29, 2023. Previously, the company paid $0.44 per share.
At the current share price of $160.35 / share, the stock's dividend yield is 1.09%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.56%, the lowest has been 0.89%, and the highest has been 3.46%. The standard deviation of yields is 0.45 (n=235).
The current dividend yield is 1.04 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.75%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1573 funds or institutions reporting positions in Hess. This is a decrease of 48 owner(s) or 2.96% in the last quarter. Average portfolio weight of all funds dedicated to HES is 0.38%, a decrease of 6.78%. Total shares owned by institutions decreased in the last three months by 3.10% to 288,433K shares. 
The put/call ratio of HES is 1.40, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 9,782K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 9,760K shares, representing an increase of 0.23%. The firm decreased its portfolio allocation in HES by 4.19% over the last quarter.
Price T Rowe Associates holds 9,014K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 8,573K shares, representing an increase of 4.89%. The firm increased its portfolio allocation in HES by 126.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,625K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 8,590K shares, representing an increase of 0.41%. The firm decreased its portfolio allocation in HES by 4.83% over the last quarter.
Primecap Management holds 8,142K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 8,180K shares, representing a decrease of 0.47%. The firm decreased its portfolio allocation in HES by 2.02% over the last quarter.
Massachusetts Financial Services holds 7,486K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 8,375K shares, representing a decrease of 11.86%. The firm decreased its portfolio allocation in HES by 11.56% over the last quarter.
Hess Background Information
(This description is provided by the company.)
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. he company is also involved in gathering, compressing, and processing natural gas.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
