Hess (NYSE:HES)‘s stock had its “buy” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Tuesday. They currently have a $87.00 price target on the oil and gas producer’s stock, up from their prior price target of $84.00. Morgan Stanley’s target price would indicate a potential upside of 26.97% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Bank of America set a $80.00 target price on Hess and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, July 16th. Credit Suisse Group set a $55.00 target price on Hess and gave the company a “hold” rating in a research report on Friday, June 29th. BMO Capital Markets restated a “hold” rating and set a $60.00 target price on shares of Hess in a research report on Thursday, July 12th. Finally, KLR Group reaffirmed a “hold” rating and issued a $74.00 price target on shares of Hess in a research note on Monday, August 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $64.62.

NYSE:HES opened at $68.52 on Tuesday. Hess has a 52 week low of $40.26 and a 52 week high of $71.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.29 and a current ratio of 2.41. The stock has a market cap of $19.78 billion, a PE ratio of -14.86 and a beta of 1.42.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 25th. The oil and gas producer reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.09. Hess had a negative return on equity of 6.04% and a negative net margin of 59.77%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned ($1.46) EPS. The company’s quarterly revenue was up 30.3% on a year-over-year basis. analysts expect that Hess will post -0.78 EPS for the current fiscal year.

In related news, insider Michael R. Turner sold 10,243 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $67.96, for a total value of $696,114.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Gregory P. Hill sold 11,480 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $65.69, for a total transaction of $754,121.20. Following the completion of the transaction, the chief operating officer now directly owns 76,511 shares in the company, valued at $5,026,007.59. The disclosure for this sale can be found here. Company insiders own 12.09% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in Hess by 6.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 108,170 shares of the oil and gas producer’s stock worth $7,235,000 after purchasing an additional 6,405 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Hess by 23.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 50,472 shares of the oil and gas producer’s stock worth $3,376,000 after purchasing an additional 9,710 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Hess by 56.0% in the 2nd quarter. CIBC World Markets Inc. now owns 105,673 shares of the oil and gas producer’s stock worth $7,068,000 after purchasing an additional 37,928 shares in the last quarter. Swiss National Bank lifted its stake in Hess by 2.6% in the 2nd quarter. Swiss National Bank now owns 937,965 shares of the oil and gas producer’s stock worth $62,740,000 after purchasing an additional 23,600 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Hess by 35.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 207,296 shares of the oil and gas producer’s stock worth $13,866,000 after purchasing an additional 53,944 shares in the last quarter. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

About Hess

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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Analyst Recommendations for Hess (NYSE:HES)

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