Barclays set a $47.00 price objective on Hess (NYSE:HES) in a research report report published on Sunday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.
A number of other equities research analysts have also commented on the company. BMO Capital Markets reiterated a hold rating and issued a $50.00 price target on shares of Hess in a research report on Thursday, January 11th. Piper Jaffray Companies reiterated a buy rating and issued a $52.00 price target on shares of Hess in a research report on Friday, February 23rd. Credit Suisse Group assumed coverage on Hess in a research report on Monday, December 11th. They issued an underperform rating and a $38.00 price target on the stock. Morgan Stanley upped their price target on Hess from $49.00 to $57.00 and gave the company an equal weight rating in a research report on Wednesday, January 24th. Finally, Macquarie assumed coverage on Hess in a research report on Wednesday, January 17th. They issued an outperform rating and a $65.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Hess presently has an average rating of Hold and an average price target of $52.28.
Hess (NYSE:HES) opened at $48.48 on Friday. Hess has a fifty-two week low of $37.25 and a fifty-two week high of $55.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 2.43. The stock has a market capitalization of $15,410.00, a PE ratio of -5.76 and a beta of 1.60.
Hess (NYSE:HES) last issued its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.10). Hess had a negative return on equity of 9.82% and a negative net margin of 74.55%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned ($1.01) EPS. Hess’s revenue for the quarter was down 6.5% on a year-over-year basis. equities analysts forecast that Hess will post -2.1 earnings per share for the current year.
In related news, SVP Timothy B. Goodell sold 3,627 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.43, for a total transaction of $161,147.61. Following the sale, the senior vice president now owns 99,555 shares in the company, valued at approximately $4,423,228.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $44.62, for a total value of $330,188.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,347 shares of company stock worth $5,157,584. 11.80% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in HES. Elephas Investment Management Ltd bought a new stake in shares of Hess during the 4th quarter valued at about $54,572,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Hess by 13.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock valued at $431,688,000 after purchasing an additional 1,123,000 shares in the last quarter. Impala Asset Management LLC boosted its position in shares of Hess by 62.9% during the 4th quarter. Impala Asset Management LLC now owns 2,295,452 shares of the oil and gas producer’s stock valued at $108,965,000 after purchasing an additional 886,096 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Hess by 13.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock valued at $244,483,000 after purchasing an additional 598,576 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Hess by 417.6% during the 4th quarter. Systematic Financial Management LP now owns 715,294 shares of the oil and gas producer’s stock valued at $33,955,000 after purchasing an additional 577,091 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.
Hess 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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.