UBS Group Cuts Hess (NYSE:HES) Price Target to $192.00

Hess (NYSE:HES) had its price target reduced by UBS Group from $193.00 to $192.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also issued reports on HES. Sanford C. Bernstein upgraded shares of Hess from a market perform rating to an outperform rating and upped their target price for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Citigroup upped their price objective on Hess from $145.00 to $160.00 and gave the stock a neutral rating in a report on Wednesday, June 5th. StockNews.com assumed coverage on Hess in a research note on Friday, June 28th. They issued a hold rating for the company. Susquehanna cut their price target on Hess from $166.00 to $151.00 and set a neutral rating on the stock in a research note on Monday, August 19th. Finally, Scotiabank lowered their price objective on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $175.77.

Hess Trading Up 1.5 %

HES stock opened at $138.18 on Tuesday. The business has a fifty day moving average price of $144.17 and a 200 day moving average price of $148.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.10. Hess has a fifty-two week low of $130.35 and a fifty-two week high of $167.75. The stock has a market capitalization of $42.57 billion, a price-to-earnings ratio of 21.16 and a beta of 1.16.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. Analysts expect that Hess will post 11.08 EPS for the current fiscal year.

Institutional Trading of Hess

A number of hedge funds have recently modified their holdings of HES. Vanguard Group Inc. increased its stake in Hess by 0.9% in the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Hess by 4.4% in the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock valued at $1,194,619,000 after buying an additional 340,490 shares during the period. Bank of New York Mellon Corp increased its position in shares of Hess by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after buying an additional 726,631 shares in the last quarter. Legal & General Group Plc raised its stake in Hess by 6.6% during the 2nd quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock worth $361,691,000 after buying an additional 150,945 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Hess by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock worth $265,359,000 after acquiring an additional 181,459 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.