Hess Corp. (NYSE:HES) has been assigned an average recommendation of “Hold” from the twenty analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $53.91.
Several brokerages have recently weighed in on HES. Barclays PLC cut their target price on Hess Corp. from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, April 17th. Bank of America Corporation reissued a “buy” rating and set a $80.00 target price on shares of Hess Corp. in a research report on Friday, April 14th. BMO Capital Markets restated a “hold” rating and set a $55.00 price target on shares of Hess Corp. in a research note on Monday, May 15th. KLR Group restated a “buy” rating and set a $60.00 price target (up previously from $58.00) on shares of Hess Corp. in a research note on Saturday, April 29th. Finally, Scotiabank set a $53.00 price target on Hess Corp. and gave the stock a “buy” rating in a research note on Tuesday, May 16th.
Shares of Hess Corp. (NYSE HES) opened at 42.62 on Friday. The stock’s market capitalization is $13.40 billion. Hess Corp. has a 12 month low of $39.89 and a 12 month high of $65.56. The company’s 50-day moving average is $43.22 and its 200 day moving average is $48.06.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.14. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Hess Corp. had a negative net margin of 33.96% and a negative return on equity of 13.21%. Hess Corp.’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.10) EPS. Equities research analysts predict that Hess Corp. will post ($4.75) earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of HES. D Orazio & Associates Inc. boosted its position in shares of Hess Corp. by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Hess Corp. during the first quarter worth $111,000. State of Alaska Department of Revenue bought a new position in Hess Corp. during the first quarter worth $114,000. Korea Investment CORP boosted its position in Hess Corp. by 142.0% in the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 1,552 shares during the period. Finally, Financial Architects Inc boosted its position in Hess Corp. by 147.6% in the first quarter. Financial Architects Inc now owns 2,600 shares of the oil and gas producer’s stock worth $125,000 after buying an additional 1,550 shares during the period. 85.80% of the stock is owned by hedge funds and other institutional investors.
About Hess Corp.
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.
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