Hess (NYSE:HES)‘s stock had its “hold” rating restated by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday. They presently have a $76.00 price objective on the oil and gas producer’s stock. Piper Jaffray Companies’ target price points to a potential upside of 38.53% from the stock’s previous close.

HES has been the subject of several other research reports. Zacks Investment Research downgraded shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley reissued a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Hess in a research report on Friday, October 12th. Sanford C. Bernstein began coverage on shares of Hess in a research report on Thursday, September 27th. They set an “outperform” rating and a $89.00 price objective for the company. Bank of America set a $80.00 target price on shares of Hess and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Credit Suisse Group set a $61.00 target price on shares of Hess and gave the company a “hold” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Hess currently has an average rating of “Hold” and an average price target of $69.08.

Shares of HES stock opened at $54.86 on Monday. The company has a current ratio of 2.30, a quick ratio of 2.16 and a debt-to-equity ratio of 0.60. Hess has a 12-month low of $40.37 and a 12-month high of $74.81.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. Hess had a negative net margin of 47.06% and a negative return on equity of 2.65%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned ($1.07) earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Hess will post 0.05 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new position in Hess in the second quarter valued at $104,000. Palo Capital Inc. acquired a new stake in Hess in the third quarter valued at $116,000. Point72 Hong Kong Ltd acquired a new stake in Hess in the third quarter valued at $131,000. Rehmann Capital Advisory Group lifted its stake in Hess by 5,108.9% in the third quarter. Rehmann Capital Advisory Group now owns 9,376 shares of the oil and gas producer’s stock valued at $131,000 after acquiring an additional 9,196 shares during the last quarter. Finally, Permanens Capital L.P. acquired a new stake in Hess in the third quarter valued at $136,000. 89.86% of the stock is owned by institutional investors and hedge funds.

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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