BMO Capital Markets Cuts Hess (HES) Price Target to $48.00

Hess (NYSE:HES) had its target price decreased by investment analysts at BMO Capital Markets from $50.00 to $48.00 in a research note issued on Tuesday. The firm presently has a “market perform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price points to a potential upside of 8.82% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley lifted their target price on Hess from $49.00 to $57.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Macquarie started coverage on Hess in a research note on Wednesday, January 17th. They set an “outperform” rating and a $65.00 price objective on the stock. Barclays reissued a “hold” rating and set a $49.00 price objective on shares of Hess in a research note on Monday, January 8th. JPMorgan Chase & Co. cut Hess from a “neutral” rating to an “underweight” rating and set a $44.00 price objective on the stock. in a research note on Friday, December 15th. Finally, Credit Suisse Group started coverage on Hess in a research note on Monday, December 11th. They set an “underperform” rating and a $38.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $52.28.

Shares of Hess (HES) traded down $1.85 during mid-day trading on Tuesday, hitting $44.11. The stock had a trading volume of 4,233,840 shares, compared to its average volume of 4,579,576. Hess has a 1 year low of $37.25 and a 1 year high of $55.48. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14,200.00, a PE ratio of -3.36 and a beta of 1.58.

Hess (NYSE:HES) last issued its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). Hess had a negative return on equity of 9.40% and a negative net margin of 74.55%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted ($1.01) earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. research analysts forecast that Hess will post -2.51 EPS for the current fiscal year.

In other Hess news, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.80% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in HES. Legacy Advisors LLC purchased a new position in shares of Hess during the third quarter valued at approximately $134,000. Advisor Group Inc. boosted its position in shares of Hess 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 buying an additional 362 shares during the period. Exane Derivatives boosted its holdings in shares of Hess by 65.2% in the fourth quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock valued at $168,000 after purchasing an additional 1,395 shares during the period. Bollard Group LLC purchased a new stake in shares of Hess in the fourth quarter valued at approximately $191,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Hess in the fourth quarter valued at approximately $197,000. Institutional investors and hedge funds own 89.85% of the company’s stock.

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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.

Analyst Recommendations for Hess (NYSE:HES)

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