Hess (HES) Receives Hold Rating from Barclays
Hess (NYSE:HES)‘s stock had its “hold” rating reaffirmed by analysts at Barclays in a research note issued on Monday. They presently have a $49.00 target price on the oil and gas producer’s stock. Barclays’ target price would suggest a potential downside of 6.60% from the company’s current price.
Several other equities analysts have also recently commented on HES. Zacks Investment Research raised shares of Hess from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. JPMorgan Chase & Co. cut shares of Hess from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $52.00 to $45.00 in a research report on Thursday, September 14th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess in a research report on Saturday, September 16th. BMO Capital Markets set a $45.00 price target on shares of Hess and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, Scotiabank set a $52.00 price target on shares of Hess and gave the stock a “buy” rating in a research report on Wednesday, October 25th. 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 stock. The stock presently has an average rating of “Hold” and an average target price of $50.80.
Shares of Hess (NYSE:HES) traded down $0.03 during mid-day trading on Monday, hitting $52.46. 3,327,100 shares of the stock traded hands, compared to its average volume of 4,121,733. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. Hess has a twelve month low of $37.25 and a twelve month high of $62.24. The company has a market capitalization of $16,850.00, a PE ratio of -2.60 and a beta of 1.77.
Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company posted ($1.12) earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. equities research analysts expect that Hess will post -4.62 earnings per share for the current fiscal year.
In other Hess news, COO Gregory P. Hill sold 7,400 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $44.62, for a total value of $330,188.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Hess by 2.3% during the second quarter. Vanguard Group Inc. now owns 19,787,281 shares of the oil and gas producer’s stock valued at $868,068,000 after buying an additional 449,097 shares during the last quarter. State Street Corp raised its holdings in shares of Hess by 1.3% during the second quarter. State Street Corp now owns 15,518,364 shares of the oil and gas producer’s stock valued at $680,786,000 after buying an additional 198,888 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Hess by 13.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock valued at $431,688,000 after buying an additional 1,123,000 shares during the last quarter. Capital World Investors raised its holdings in shares of Hess by 1.8% during the second quarter. Capital World Investors now owns 6,811,400 shares of the oil and gas producer’s stock valued at $298,816,000 after buying an additional 119,241 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Hess by 13.0% during the third quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock valued at $244,483,000 after buying an additional 598,576 shares during the last quarter. 89.12% of the stock is currently 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.
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