Hess Corp. (NYSE:HES) shares gapped up before the market opened on Wednesday . The stock had previously closed at $54.56, but opened at $55.96. Hess shares last traded at $56.02, with a volume of 3106652 shares.

A number of brokerages recently weighed in on HES. Mizuho began coverage on Hess in a report on Monday, July 23rd. They set a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley reissued a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Hess in a report on Tuesday, September 18th. Credit Suisse Group set a $61.00 target price on Hess and gave the company a “hold” rating in a report on Monday, September 17th. Piper Jaffray Companies lowered Hess from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Finally, KLR Group reissued a “hold” rating and issued a $74.00 target price on shares of Hess in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.86.

The company has a quick ratio of 2.29, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of -12.15, a price-to-earnings-growth ratio of 365.65 and a beta of 1.55.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.54 billion. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. Hess’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.07) earnings per share. On average, research analysts anticipate that Hess Corp. will post 0.03 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of HES. State of Alaska Department of Revenue lifted its position in shares of Hess by 27.1% in the second quarter. State of Alaska Department of Revenue now owns 57,638 shares of the oil and gas producer’s stock valued at $3,854,000 after acquiring an additional 12,300 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Hess by 2.7% during the second quarter. Xact Kapitalforvaltning AB now owns 32,138 shares of the oil and gas producer’s stock worth $2,150,000 after buying an additional 831 shares during the period. Trinity Street Asset Management LLP purchased a new position in Hess during the second quarter worth about $33,160,000. Retirement Systems of Alabama lifted its position in Hess by 29.3% during the second quarter. Retirement Systems of Alabama now owns 255,550 shares of the oil and gas producer’s stock worth $17,094,000 after buying an additional 57,870 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Hess by 6.3% during the second quarter. Nisa Investment Advisors LLC now owns 108,170 shares of the oil and gas producer’s stock worth $7,235,000 after buying an additional 6,405 shares during the period. 88.54% of the stock is currently owned by institutional investors.

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About Hess (NYSE:HES)

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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