Hess (HES) Coverage Initiated at Macquarie
Stock analysts at Macquarie assumed coverage on shares of Hess (NYSE:HES) in a report issued on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the oil and gas producer’s stock.
A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, November 9th. JPMorgan Chase & Co. downgraded Hess from a “neutral” rating to an “underweight” rating and set a $44.00 price objective for the company. in a research note on Friday, December 15th. Credit Suisse Group began coverage on Hess in a research note on Monday, December 11th. They set an “underperform” rating and a $38.00 price objective for the company. Scotiabank set a $52.00 price objective on Hess and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley boosted their price objective on Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $51.12.
Hess (NYSE:HES) traded up $0.48 on Wednesday, hitting $54.02. The stock had a trading volume of 5,967,240 shares, compared to its average volume of 4,160,000. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46. The stock has a market cap of $17,170.00, a price-to-earnings ratio of -2.68 and a beta of 1.77. Hess has a 12-month low of $37.25 and a 12-month high of $60.13.
Hess (NYSE:HES) last issued its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.29) by $0.22. Hess had a negative return on equity of 9.30% and a negative net margin of 113.21%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm earned ($1.12) EPS. Hess’s revenue was up 39.3% on a year-over-year basis. equities analysts anticipate that Hess will post -4.63 EPS for the current fiscal year.
In related news, COO Gregory P. Hill sold 7,400 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total transaction of $330,188.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.80% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Bluestein R H & Co. bought a new position in Hess in the 3rd quarter valued at $731,000. Asset Management One Co. Ltd. grew its position in shares of Hess by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 438,504 shares of the oil and gas producer’s stock worth $20,554,000 after buying an additional 3,171 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Hess by 6.5% during the 2nd quarter. Janus Henderson Group PLC now owns 223,277 shares of the oil and gas producer’s stock worth $9,793,000 after buying an additional 13,557 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its position in shares of Hess by 1.4% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 238,871 shares of the oil and gas producer’s stock worth $11,201,000 after buying an additional 3,238 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Hess by 9.0% during the 3rd quarter. Strs Ohio now owns 1,172,481 shares of the oil and gas producer’s stock worth $54,977,000 after buying an additional 96,657 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors.
Hess 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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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