Shares of Hess Corp. (NYSE:HES) have earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $68.69.
Several research analysts have weighed in on the company. Capital One Financial upgraded Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. ValuEngine cut Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Tuesday, April 30th. MKM Partners reiterated a “neutral” rating and set a $71.00 price objective on shares of Hess in a research report on Tuesday, April 16th. Finally, Morgan Stanley set a $63.00 price objective on Hess and gave the stock a “buy” rating in a research report on Tuesday, January 29th.
HES opened at $59.47 on Monday. Hess has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a current ratio of 1.69, a quick ratio of 1.57 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $18.05 billion, a P/E ratio of -80.36 and a beta of 1.96.
Hess (NYSE:HES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.35. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) EPS. As a group, equities analysts expect that Hess will post 0.23 earnings per share for the current year.
In other news, insider Andrew P. Slentz sold 2,081 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $62.52, for a total transaction of $130,104.12. Following the sale, the insider now directly owns 19,119 shares of the company’s stock, valued at approximately $1,195,319.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael R. Turner sold 18,756 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $66.52, for a total value of $1,247,649.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,173 shares of company stock worth $9,377,165. 12.22% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HES. Lowe Brockenbrough & Co. Inc. boosted its stake in Hess by 1.3% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 76,643 shares of the oil and gas producer’s stock valued at $4,616,000 after buying an additional 1,020 shares in the last quarter. Allstate Corp boosted its stake in Hess by 4.7% in the first quarter. Allstate Corp now owns 38,704 shares of the oil and gas producer’s stock valued at $2,331,000 after buying an additional 1,740 shares in the last quarter. Nordea Investment Management AB boosted its stake in Hess by 3.2% in the first quarter. Nordea Investment Management AB now owns 24,275 shares of the oil and gas producer’s stock valued at $1,462,000 after buying an additional 745 shares in the last quarter. Cleararc Capital Inc. acquired a new stake in Hess in the first quarter valued at about $258,000. Finally, Horizon Investments LLC acquired a new stake in Hess in the first quarter valued at about $276,000. 93.19% of the stock is currently owned by institutional investors.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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