Hess (NYSE:HES) Receives Neutral Rating from MKM Partners

Hess (NYSE:HES)‘s stock had its “neutral” rating reiterated by equities researchers at MKM Partners in a note issued to investors on Tuesday, April 16th, Marketbeat Ratings reports. They currently have a $71.00 price objective on the oil and gas producer’s stock. MKM Partners’ price objective points to a potential upside of 11.67% from the company’s previous close.

Several other brokerages also recently weighed in on HES. Morgan Stanley set a $63.00 price target on shares of Hess and gave the company a “buy” rating in a research report on Tuesday, January 29th. Stephens set a $77.00 target price on shares of Hess and gave the stock a “buy” rating in a research report on Monday, December 17th. ValuEngine raised shares of Hess from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Zacks Investment Research raised shares of Hess from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $53.00 target price on shares of Hess in a research report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.69.

Hess stock traded up $0.32 during trading on Tuesday, hitting $63.58. The stock had a trading volume of 2,329,481 shares, compared to its average volume of 3,482,749. The company has a market cap of $19.20 billion, a price-to-earnings ratio of -85.92 and a beta of 1.96. Hess has a 1 year low of $35.59 and a 1 year high of $74.81. The company has a current ratio of 1.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.62.

Hess (NYSE:HES) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.35. Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted ($0.27) earnings per share. Hess’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Hess will post 0.12 earnings per share for the current fiscal year.

In other Hess news, COO Gregory P. Hill sold 8,700 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $57.93, for a total value of $503,991.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael R. Turner sold 25,170 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $63.20, for a total transaction of $1,590,744.00. Following the completion of the sale, the insider now directly owns 92,812 shares of the company’s stock, valued at approximately $5,865,718.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,718 shares of company stock worth $4,272,772. Insiders own 12.22% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Standard Life Aberdeen plc increased its stake in shares of Hess by 3.4% in the third quarter. Standard Life Aberdeen plc now owns 767,491 shares of the oil and gas producer’s stock worth $54,941,000 after acquiring an additional 25,029 shares during the period. GSA Capital Partners LLP acquired a new position in Hess in the 3rd quarter valued at $255,000. Pacer Advisors Inc. increased its stake in Hess by 41.6% in the 3rd quarter. Pacer Advisors Inc. now owns 17,674 shares of the oil and gas producer’s stock valued at $1,265,000 after buying an additional 5,192 shares during the period. Man Group plc increased its stake in Hess by 320.4% in the 3rd quarter. Man Group plc now owns 118,157 shares of the oil and gas producer’s stock valued at $8,458,000 after buying an additional 90,049 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Hess in the 3rd quarter valued at $1,080,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

Hess Company Profile

Hess Corporation, an exploration and production company, explores for, 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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