Morgan Stanley Reaffirms Equal Weight Rating for Hess Corporation (HES)
Hess Corporation (NYSE:HES)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a research report issued to clients and investors on Saturday.
Other analysts have also recently issued research reports about the stock. Scotiabank set a $53.00 target price on shares of Hess Corporation and gave the company a “buy” rating in a research note on Tuesday, June 20th. Piper Jaffray Companies set a $47.00 target price on shares of Hess Corporation and gave the company a “buy” rating in a research note on Friday, August 25th. Barclays PLC reissued an “equal weight” rating and issued a $50.00 target price (down previously from $61.00) on shares of Hess Corporation in a research note on Wednesday, July 12th. BMO Capital Markets set a $55.00 target price on shares of Hess Corporation and gave the company a “hold” rating in a research note on Saturday, June 17th. Finally, Cowen and Company set a $55.00 target price on shares of Hess Corporation and gave the company a “hold” rating in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Hess Corporation currently has an average rating of “Hold” and a consensus target price of $52.13.
Hess Corporation (NYSE HES) opened at 42.17 on Friday. The firm has a 50-day moving average price of $40.84 and a 200-day moving average price of $45.19. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The firm’s market capitalization is $13.26 billion.
Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.32) by ($0.14). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.10) EPS. Equities analysts forecast that Hess Corporation will post ($4.80) EPS for the current year.
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In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D Orazio & Associates Inc. grew its stake in shares of Hess Corporation by 266.7% during the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 1,600 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Hess Corporation by 7.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock valued at $108,000 after purchasing an additional 167 shares during the last quarter. Korea Investment CORP grew its stake in shares of Hess Corporation by 142.0% during the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 1,552 shares during the last quarter. Lenox Wealth Advisors Inc. bought a new stake in shares of Hess Corporation during the second quarter valued at approximately $132,000. Finally, Advisor Group Inc. grew its stake in shares of Hess Corporation by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 362 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.
Hess Corporation 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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