Hess Corp. Downgraded to “Neutral” at Citigroup Inc. (HES)
Hess Corp. (NYSE:HES) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Hess Corp. (NYSE:HES) opened at 78.77 on Wednesday. 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 $77.32 and a 200-day moving average of $72.15. The company has a market cap of $26.790 billion and a P/E ratio of 7.40.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.61 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis.
HES has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Oppenheimer reiterated a “buy” rating on shares of Hess Corp. in a research note to investors on Tuesday, September 24th. They now have a $90.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Hess Corp. has an average rating of “Hold” and a consensus target price of $80.63.
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).
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