Stephens assumed coverage on shares of Hess (NYSE:HES) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $75.00 price target on the oil and gas producer’s stock. Stephens’ target price points to a potential upside of 42.56% from the stock’s current price.

Several other analysts have also recently issued reports on HES. KLR Group restated a “hold” rating and issued a $74.00 target price on shares of Hess in a report on Monday, August 20th. Bank of America reiterated a “buy” rating and set a $86.00 price target (up from $83.00) on shares of Hess in a report on Monday, September 17th. Credit Suisse Group set a $61.00 price target on Hess and gave the stock a “hold” rating in a report on Monday, September 17th. Morgan Stanley reiterated a “buy” rating and set a $87.00 price target (up from $84.00) on shares of Hess in a report on Tuesday, September 18th. Finally, Piper Jaffray Companies cut Hess from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Hess currently has a consensus rating of “Hold” and an average price target of $68.87.

Shares of NYSE:HES opened at $52.61 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of -11.41, a P/E/G ratio of 533.70 and a beta of 1.55. Hess has a 52-week low of $40.37 and a 52-week high of $74.81.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.07) EPS. As a group, equities analysts expect that Hess will post 0.02 earnings per share for the current fiscal year.

In related news, insider Michael R. Turner sold 4,142 shares of the stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total transaction of $235,348.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.09% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in Hess by 0.3% during the 2nd quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock worth $203,815,000 after acquiring an additional 7,856 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Hess by 35.2% during 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 acquiring an additional 53,944 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Hess by 23.8% during 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 acquiring an additional 9,710 shares in the last quarter. Three Peaks Capital Management LLC acquired a new position in Hess during the 3rd quarter worth about $2,506,000. Finally, CIBC World Markets Inc. lifted its stake in Hess by 56.0% during 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 acquiring an additional 37,928 shares in the last quarter. 87.50% 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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