Cowen and Company Increases Hess Corp. Price Target to $89.00 (HES)
Analysts at Cowen and Company increased their price target on shares of Hess Corp. (NYSE:HES) from $80.00 to $89.00 in a research report issued to clients and investors on Wednesday, AmericanBankingNews.com reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s target price would indicate a potential upside of 13.33% from the company’s current price.
A number of other firms have also recently commented on HES. Analysts at Citigroup Inc. downgraded shares of Hess Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Separately, analysts at ISI Group raised their price target on shares of Hess Corp. from $80.00 to $92.00 in a research note to investors on Thursday, October 3rd. Finally, analysts at Societe Generale downgraded shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 1st. They now have a $86.00 price target on the stock, up previously from $80.00. Sixteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $81.12.
Shares of Hess Corp. (NYSE:HES) traded down 0.30% on Wednesday, hitting $78.53. 2,850,812 shares of the company’s stock traded hands. Hess Corp. has a 52-week low of $48.20 and a 52-week high of $81.12. The stock has a 50-day moving average of $77.47 and a 200-day moving average of $72.21. The company has a market cap of $26.708 billion and a price-to-earnings ratio of 7.40.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Analysts expect that Hess Corp. will post $6.46 EPS for the current fiscal year.
Hess Corporation (NYSE:HES) is a global integrated energy company that operates in two segments: Exploration and Production (E&P) and Marketing and Refining (M&R).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.