Hess Corp. (HES) Given New $40.00 Price Target at BMO Capital Markets

Hess Corp. (NYSE:HES) had its target price cut by BMO Capital Markets from $45.00 to $40.00 in a note issued to investors on Friday, July 14th. The firm presently has a “market perform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 6.15% from the company’s previous close.

Several other analysts also recently commented on the company. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 price objective on shares of Hess Corp. in a research note on Friday, April 14th. Barclays PLC dropped their price objective on Hess Corp. from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Wells Fargo & Company upgraded Hess Corp. from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $46.13 to $45.84 in a report on Friday, May 5th. They noted that the move was a valuation call. Scotiabank set a $52.00 target price on Hess Corp. and gave the stock a “buy” rating in a report on Monday, March 27th. Finally, Cowen and Company set a $55.00 price objective on Hess Corp. and gave the company a “hold” rating in a report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.91.

Hess Corp. (HES) opened at 42.62 on Friday. The stock’s market cap is $13.40 billion. Hess Corp. has a one year low of $39.89 and a one year high of $65.56. The stock’s 50 day moving average price is $43.22 and its 200-day moving average price is $48.06.

Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.14. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Hess Corp. had a negative return on equity of 13.21% and a negative net margin of 33.96%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.10) EPS. On average, analysts predict that Hess Corp. will post ($4.75) earnings per share for the current year.

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Large investors have recently modified their holdings of the company. IndexIQ Advisors LLC bought a new stake in shares of Hess Corp. during the second quarter valued at about $240,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Hess Corp. by 17.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,734 shares of the oil and gas producer’s stock valued at $646,000 after buying an additional 2,219 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hess Corp. by 13.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 486,259 shares of the oil and gas producer’s stock valued at $21,332,000 after buying an additional 57,437 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in shares of Hess Corp. by 4.3% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 26,900 shares of the oil and gas producer’s stock valued at $1,180,000 after buying an additional 1,100 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Hess Corp. by 8.2% in the second quarter. Pacer Advisors Inc. now owns 6,461 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 85.80% of the company’s stock.

Hess Corp. Company Profile

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Analyst Recommendations for Hess Corp. (NYSE:HES)

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