Stock analysts at Credit Suisse Group assumed coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Monday, December 11th, Marketbeat Ratings reports. The brokerage set an “underperform” rating and a $38.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s target price suggests a potential downside of 19.17% from the stock’s previous close.
A number of other brokerages have also recently commented on HES. Zacks Investment Research cut Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Morgan Stanley lifted their price target on Hess from $43.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $45.00 price target on Hess and gave the stock a “hold” rating in a research report on Friday, November 17th. Scotiabank set a $50.00 price target on Hess and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, JPMorgan Chase & Co. cut Hess from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $45.00 in a report on Thursday, September 14th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.87.
Shares of Hess (HES) traded up $0.67 on Monday, reaching $47.01. The company’s stock had a trading volume of 2,720,000 shares, compared to its average volume of 4,100,000. Hess has a 12 month low of $37.25 and a 12 month high of $64.91. 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 firm has a market cap of $14,940.00, a PE ratio of -2.33 and a beta of 1.76.
In related news, COO Gregory P. Hill sold 7,400 shares of Hess stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its stake in Hess by 7.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 167 shares in the last quarter. Korea Investment CORP grew its position in shares of Hess by 142.0% in 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 in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Hess in the third quarter valued at approximately $134,000. Advisor Group Inc. grew its position in shares of Hess by 9.7% in 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 in the last quarter. Finally, Point View Wealth Management Inc. purchased a new stake in shares of Hess in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.
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.
