Hess (NYSE:HES) has been assigned a $45.00 price objective by stock analysts at BMO Capital Markets in a report issued on Friday, November 17th. The firm currently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ price target indicates a potential downside of 2.79% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, November 1st. Scotiabank set a $52.00 price objective on shares of Hess and gave the stock a “buy” rating in a report on Wednesday, October 25th. Piper Jaffray Companies set a $47.00 price objective on shares of Hess and gave the stock a “buy” rating in a report on Friday, August 25th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess in a report on Saturday, September 16th. Finally, Cowen reissued a “hold” rating and set a $50.00 price target on shares of Hess in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $51.79.
Hess (HES) traded down $0.28 during trading on Friday, reaching $46.29. 2,276,914 shares of the company’s stock traded hands, compared to its average volume of 4,149,552. Hess has a 1 year low of $37.25 and a 1 year high of $65.56. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46.
Hess (NYSE:HES) last posted its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. Hess 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 for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business posted ($1.12) EPS. Hess’s revenue was up 39.3% compared to the same quarter last year. equities research analysts forecast that Hess will post -4.58 earnings per share for the current year.
In related news, insider Brian D. Truelove sold 6,000 shares of Hess stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink. 11.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Hess by 2.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,227,746 shares of the oil and gas producer’s stock worth $198,239,000 after purchasing an additional 82,901 shares in the last quarter. Cetera Investment Advisers acquired a new position in Hess during the third quarter worth $349,000. IFM Investors Pty Ltd acquired a new position in Hess during the third quarter worth $385,000. California Public Employees Retirement System increased its holdings in Hess by 3.8% during the third quarter. California Public Employees Retirement System now owns 919,767 shares of the oil and gas producer’s stock worth $43,128,000 after buying an additional 33,316 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Hess by 168.7% during the third quarter. Janney Montgomery Scott LLC now owns 58,480 shares of the oil and gas producer’s stock worth $2,742,000 after buying an additional 36,714 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.
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Hess Company Profile
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.
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