Hess Corporation (HES) Given a $52.00 Price Target at Scotiabank

Scotiabank set a $52.00 price target on Hess Corporation (NYSE:HES) in a research note released on Wednesday, October 25th. The brokerage currently has a buy rating on the oil and gas producer’s stock.

A number of other equities analysts also recently weighed in on HES. BMO Capital Markets set a $42.00 target price on shares of Hess Corporation and gave the company a hold rating in a research note on Friday, July 28th. Morgan Stanley reaffirmed an equal weight rating on shares of Hess Corporation in a research note on Saturday, September 16th. BidaskClub raised shares of Hess Corporation from a strong sell rating to a sell rating in a research report on Saturday, July 1st. Piper Jaffray Companies set a $47.00 price target on shares of Hess Corporation and gave the company a buy rating in a research report on Friday, August 25th. Finally, Cowen and Company reissued a hold rating and set a $50.00 price target on shares of Hess Corporation in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $51.92.

Shares of Hess Corporation (HES) traded down $0.42 during midday trading on Wednesday, hitting $47.11. 2,155,600 shares of the company’s stock were exchanged, compared to its average volume of 4,165,039. Hess Corporation has a fifty-two week low of $37.25 and a fifty-two week high of $65.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.46.

Hess Corporation (NYSE:HES) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.29) by $0.22. Hess Corporation had a negative net margin of 113.21% and a negative return on equity of 9.30%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned ($1.12) earnings per share. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. sell-side analysts anticipate that Hess Corporation will post -4.72 EPS for the current year.

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In related news, insider Brian D. Truelove sold 6,000 shares of Hess Corporation stock in a transaction on Monday, September 18th. The shares were sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Gregory P. Hill sold 11,726 shares of Hess Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Condor Capital Management increased its holdings in Hess Corporation by 0.3% in the 2nd quarter. Condor Capital Management now owns 13,579 shares of the oil and gas producer’s stock valued at $596,000 after acquiring an additional 39 shares during the last quarter. Welch & Forbes LLC increased its holdings in Hess Corporation by 1.0% in the 2nd quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 46 shares during the last quarter. Bollard Group LLC increased its holdings in Hess Corporation by 0.6% in the 2nd quarter. Bollard Group LLC now owns 10,462 shares of the oil and gas producer’s stock valued at $459,000 after acquiring an additional 62 shares during the last quarter. Linscomb & Williams Inc. increased its holdings in Hess Corporation by 0.3% in the 2nd quarter. Linscomb & Williams Inc. now owns 21,171 shares of the oil and gas producer’s stock valued at $929,000 after acquiring an additional 71 shares during the last quarter. Finally, Conning Inc. increased its holdings in Hess Corporation by 1.3% in the 2nd quarter. Conning Inc. now owns 7,687 shares of the oil and gas producer’s stock valued at $337,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 87.89% of the company’s stock.

About Hess Corporation

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, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Analyst Recommendations for Hess Corporation (NYSE:HES)

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