Credit Suisse Group Upgrades Hess (HES) to Neutral

Hess (NYSE:HES) was upgraded by equities researchers at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a research report issued on Monday, MarketBeat Ratings reports. The firm presently has a $42.00 target price on the oil and gas producer’s stock. Credit Suisse Group’s price objective indicates a potential downside of 4.85% from the stock’s previous close.

A number of other 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 target on the stock in a report on Thursday, November 9th. JPMorgan Chase & Co. downgraded Hess from a “neutral” rating to an “underweight” rating and set a $44.00 price target on the stock. in a report on Friday, December 15th. Barclays reiterated a “hold” rating and issued a $49.00 price target on shares of Hess in a report on Monday, January 8th. Scotiabank set a $52.00 price target on Hess and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Macquarie initiated coverage on Hess in a report on Wednesday, January 17th. They issued an “outperform” rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.52.

Hess (HES) traded up $2.02 on Monday, reaching $44.14. The company’s stock had a trading volume of 6,987,474 shares, compared to its average volume of 4,610,000. Hess has a one year low of $37.25 and a one year high of $55.48. The stock has a market cap of $14,030.00, a P/E ratio of -3.36 and a beta of 1.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 1.68.

Hess (NYSE:HES) last announced its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted ($1.01) earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. equities analysts anticipate that Hess will post -2.27 EPS for the current year.

In other news, COO Gregory P. Hill sold 7,400 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John B. Hess sold 93,712 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $44.29, for a total value of $4,150,504.48. Following the completion of the sale, the chief executive officer now directly owns 1,885,911 shares of the company’s stock, valued at approximately $83,526,998.19. The disclosure for this sale can be found here. Insiders sold a total of 116,347 shares of company stock valued at $5,157,584 in the last three months. Insiders own 11.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of HES. Hotchkis & Wiley Capital Management LLC lifted its position in Hess by 13.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock worth $431,688,000 after acquiring an additional 1,123,000 shares during the period. Hermes Investment Management Ltd. lifted its position in Hess by 57.0% during the 3rd quarter. Hermes Investment Management Ltd. now owns 1,730,153 shares of the oil and gas producer’s stock worth $81,127,000 after acquiring an additional 627,795 shares during the period. Bank of New York Mellon Corp lifted its position in Hess by 13.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock worth $244,483,000 after acquiring an additional 598,576 shares during the period. Impala Asset Management LLC lifted its position in Hess by 70.9% during the 3rd quarter. Impala Asset Management LLC now owns 1,409,356 shares of the oil and gas producer’s stock worth $66,085,000 after acquiring an additional 584,640 shares during the period. Finally, Systematic Financial Management LP lifted its position in Hess by 417.6% during the 4th quarter. Systematic Financial Management LP now owns 715,294 shares of the oil and gas producer’s stock worth $33,955,000 after acquiring an additional 577,091 shares during the period. 89.83% of the stock is owned by institutional investors.

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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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