Equities researchers at UBS Group started coverage on shares of Hess (NYSE:HES) in a research note issued on Wednesday, The Fly reports. The firm set a “neutral” rating on the oil and gas producer’s stock.
A number of other research analysts also recently weighed in on the company. Barclays set a $47.00 price objective on Hess and gave the company a “hold” rating in a research note on Sunday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $52.00 price target on shares of Hess in a research report on Friday, February 23rd. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target (down from $63.00) on shares of Hess in a research report on Wednesday, February 21st. Credit Suisse Group raised Hess from an “underperform” rating to a “neutral” rating and set a $42.00 price target on the stock in a research report on Monday, February 12th. Finally, BMO Capital Markets dropped their price target on Hess from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.28.
Hess (HES) opened at $48.48 on Wednesday. The company has a quick ratio of 2.43, a current ratio of 2.53 and a debt-to-equity ratio of 0.52. Hess has a one year low of $37.25 and a one year high of $55.48. The firm has a market capitalization of $15,261.20, a P/E ratio of -3.70 and a beta of 1.60.
Hess (NYSE:HES) last issued its quarterly earnings data on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business posted ($1.01) earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. research analysts predict that Hess will post -2.1 earnings per share for the current fiscal year.
In other Hess news, CEO John B. Hess sold 93,712 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $44.29, for a total value of $4,150,504.48. Following the transaction, the chief executive officer now owns 1,885,911 shares of the company’s stock, valued at $83,526,998.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was 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 ninety days, insiders sold 116,347 shares of company stock worth $5,157,584. 11.80% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of HES. Nationwide Fund Advisors boosted its stake in Hess by 12.0% in the third quarter. Nationwide Fund Advisors now owns 448,728 shares of the oil and gas producer’s stock worth $21,041,000 after purchasing an additional 48,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Hess by 15.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 32,008 shares of the oil and gas producer’s stock worth $1,501,000 after purchasing an additional 4,221 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Hess in the third quarter worth $1,044,000. Andra AP fonden boosted its stake in Hess by 26.1% in the third quarter. Andra AP fonden now owns 28,000 shares of the oil and gas producer’s stock worth $1,313,000 after purchasing an additional 5,800 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in shares of Hess by 16.6% during the third quarter. State of Tennessee Treasury Department now owns 86,158 shares of the oil and gas producer’s stock valued at $4,040,000 after acquiring an additional 12,248 shares during the period. 91.79% of the stock is currently owned by institutional investors.
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.