Hess (NYSE:HES) has been assigned a $61.00 target price by Piper Jaffray Companies in a report released on Friday, TipRanks reports. The firm currently has a “hold” rating on the oil and gas producer’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 3.40% from the stock’s current price.
A number of other equities analysts have also commented on HES. MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, May 28th. ValuEngine cut shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Co reissued a “buy” rating on shares of Hess in a research report on Wednesday, July 31st. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, April 30th. Finally, Capital One Financial raised shares of Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.38.
Hess stock traded up $3.33 during trading on Friday, hitting $63.15. The company’s stock had a trading volume of 4,009,049 shares, compared to its average volume of 3,448,866. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of -85.34 and a beta of 1.97. The stock’s fifty day moving average is $61.37 and its 200 day moving average is $60.34. Hess has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58.
Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Hess had a return on equity of 0.46% and a net margin of 1.09%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned ($0.23) EPS. On average, research analysts anticipate that Hess will post -0.39 EPS for the current fiscal year.
In related news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total value of $417,699.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael R. Turner sold 11,258 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.71, for a total transaction of $694,731.18. The disclosure for this sale can be found here. Insiders sold 48,908 shares of company stock valued at $3,090,015 in the last three months. 12.22% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in Hess by 7.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 173,021 shares of the oil and gas producer’s stock valued at $10,421,000 after buying an additional 11,857 shares during the period. Stephens Inc. AR bought a new stake in Hess during the 1st quarter valued at approximately $208,000. Carroll Financial Associates Inc. boosted its stake in Hess by 826.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,723 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 1,537 shares during the period. Everence Capital Management Inc. boosted its stake in Hess by 23.9% during the 1st quarter. Everence Capital Management Inc. now owns 17,269 shares of the oil and gas producer’s stock valued at $1,040,000 after purchasing an additional 3,329 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Hess by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 24,275 shares of the oil and gas producer’s stock valued at $1,462,000 after purchasing an additional 745 shares during the period. 96.84% of the stock is currently owned by hedge funds and other institutional investors.
Hess Company Profile
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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