Hess Corp. (HES) Receives $68.69 Average PT from Brokerages

Shares of Hess Corp. (NYSE:HES) have received an average rating of “Hold” from the fifteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $68.69.

A number of analysts have commented on the stock. Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price target on the stock. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. MKM Partners restated a “neutral” rating and set a $71.00 price target on shares of Hess in a research report on Tuesday, April 16th. Zacks Investment Research upgraded shares of Hess from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine downgraded shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley set a $63.00 price target on shares of Hess and gave the stock a “buy” rating in a research report on Tuesday, January 29th.

In related news, insider Michael R. Turner sold 18,756 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $66.52, for a total value of $1,247,649.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Gregory P. Hill sold 63,806 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $66.62, for a total transaction of $4,250,755.72. The disclosure for this sale can be found here. Insiders sold a total of 147,173 shares of company stock worth $9,377,165 over the last quarter. Insiders own 12.22% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HES. Thrivent Financial for Lutherans raised its holdings in shares of Hess by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 11,444 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 201 shares during the period. Hartford Investment Management Co. raised its holdings in shares of Hess by 0.7% during the first quarter. Hartford Investment Management Co. now owns 27,602 shares of the oil and gas producer’s stock valued at $1,662,000 after acquiring an additional 203 shares during the period. M&T Bank Corp raised its holdings in shares of Hess by 1.2% during the fourth quarter. M&T Bank Corp now owns 18,751 shares of the oil and gas producer’s stock valued at $759,000 after acquiring an additional 221 shares during the period. Parallel Advisors LLC raised its holdings in shares of Hess by 26.2% during the fourth quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 233 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Hess by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the oil and gas producer’s stock valued at $807,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 93.19% of the company’s stock.

HES stock opened at $64.09 on Monday. Hess has a 52 week low of $35.59 and a 52 week high of $74.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.69 and a quick ratio of 1.57.

Hess (NYSE:HES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned ($0.27) EPS. Hess’s revenue was up 15.0% on a year-over-year basis. Analysts forecast that Hess will post 0.23 earnings per share for the current year.

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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