StockNews.com Initiates Coverage on Hess (NYSE:HES)

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a report issued on Sunday. The firm set a “hold” rating on the oil and gas producer’s stock.

Other research analysts have also recently issued reports about the stock. Citigroup increased their price target on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Finally, UBS Group lifted their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Hess Price Performance

Shares of NYSE HES opened at $143.83 on Friday. Hess has a twelve month low of $123.79 and a twelve month high of $163.98. The business’s 50 day moving average price is $142.93 and its two-hundred day moving average price is $139.75. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $44.32 billion, a PE ratio of 15.98 and a beta of 1.17.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, analysts predict that Hess will post 8.08 EPS for the current year.

Institutional Investors Weigh In On Hess

Hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp bought a new position in Hess in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in shares of Hess in the 4th quarter valued at $27,000. Millstone Evans Group LLC acquired a new stake in shares of Hess during the 4th quarter valued at $33,000. Covestor Ltd grew its position in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 98 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Hess in the 3rd quarter worth about $37,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

About Hess

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.