Hess Corp. (NYSE:HES) Given Average Recommendation of “Hold” by Brokerages
Shares of Hess Corp. (NYSE:HES) have earned an average rating of “Hold” from the twenty ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $53.91.
HES has been the topic of a number of recent analyst reports. Bank of America Corporation restated a “buy” rating and set a $80.00 price target on shares of Hess Corp. in a report on Friday, April 14th. Barclays PLC cut their price target on shares of Hess Corp. from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Hess Corp. in a report on Monday, May 15th. Wells Fargo & Company upgraded shares of Hess Corp. from a “market perform” rating to an “outperform” rating and cut their price target for the company from $46.13 to $45.84 in a report on Friday, May 5th. They noted that the move was a valuation call. Finally, Cowen and Company set a $55.00 price target on shares of Hess Corp. and gave the company a “hold” rating in a report on Monday, July 10th.
Hess Corp. (NYSE:HES) traded up 1.10% during mid-day trading on Tuesday, reaching $43.33. 730,302 shares of the company’s stock traded hands. The company’s market capitalization is $13.62 billion. Hess Corp. has a 52-week low of $39.89 and a 52-week high of $65.56. The company has a 50-day moving average of $43.32 and a 200-day moving average of $48.15.
Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.14. Hess Corp. had a negative net margin of 33.96% and a negative return on equity of 13.21%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned ($1.10) EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Hess Corp. will post ($4.75) EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Hess Corp. by 17.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,734 shares of the oil and gas producer’s stock valued at $646,000 after buying an additional 2,219 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hess Corp. by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 486,259 shares of the oil and gas producer’s stock valued at $21,332,000 after buying an additional 57,437 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of Hess Corp. by 4.3% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 26,900 shares of the oil and gas producer’s stock valued at $1,180,000 after buying an additional 1,100 shares during the period. Pacer Advisors Inc. raised its position in shares of Hess Corp. by 8.2% in the second quarter. Pacer Advisors Inc. now owns 6,461 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 490 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Hess Corp. by 0.6% in the second quarter. Utah Retirement Systems now owns 51,834 shares of the oil and gas producer’s stock valued at $2,274,000 after buying an additional 300 shares during the period. Institutional investors own 85.80% of the company’s stock.
Hess Corp. Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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