Hess Corp. Given New $87.00 Price Target at Cowen and Company (HES)
Stock analysts at Cowen and Company lowered their price objective on shares of Hess Corp. (NYSE:HES) from $89.00 to $87.00 in a report issued on Thursday, AmericanBankingNews.com reports. Cowen and Company’s price target suggests a potential upside of 12.90% from the company’s current price.
Hess Corp. (NYSE:HES) traded down 0.69% on Thursday, hitting $76.53. 3,004,571 shares of the company’s stock traded hands. Hess Corp. has a one year low of $61.32 and a one year high of $85.15. The stock has a 50-day moving average of $79.64 and a 200-day moving average of $78.59. The company has a market cap of $25.944 billion and a price-to-earnings ratio of 7.54.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, January 29th. The company reported $0.96 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.30 by $0.34. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company posted $1.66 earnings per share. Hess Corp.’s revenue was down 6.1% compared to the same quarter last year. Analysts expect that Hess Corp. will post $5.80 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Mizuho downgraded shares of Hess Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 6th. Separately, analysts at Iberia Capital initiated coverage on shares of Hess Corp. in a research note to investors on Tuesday, December 31st. They set a “sector perform” rating and a $89.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hess Corp. in a research note to investors on Wednesday, December 4th. They now have a $85.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.88.
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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