Barclays upgraded shares of Hess (NYSE:HES) from an underweight rating to an equal weight rating in a research report report published on Tuesday morning, MarketBeat.com reports. Barclays currently has $66.00 price objective on the oil and gas producer’s stock.
Several other analysts also recently weighed in on HES. BMO Capital Markets restated a hold rating and issued a $60.00 price objective on shares of Hess in a report on Thursday, July 12th. Zacks Investment Research downgraded Hess from a buy rating to a hold rating in a report on Thursday, July 12th. Mizuho assumed coverage on Hess in a report on Monday, July 23rd. They issued a neutral rating and a $80.00 price objective for the company. Sanford C. Bernstein assumed coverage on Hess in a report on Thursday, September 27th. They issued an outperform rating and a $89.00 price objective for the company. Finally, Morgan Stanley restated a buy rating and issued a $92.00 price objective (up from $87.00) on shares of Hess in a report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $66.71.
Shares of HES stock traded down $1.65 on Tuesday, hitting $56.19. The stock had a trading volume of 1,470,812 shares, compared to its average volume of 3,426,135. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.41 and a quick ratio of 2.29. The company has a market capitalization of $17.11 billion, a P/E ratio of -12.19 and a beta of 1.41. Hess has a one year low of $40.37 and a one year high of $74.81.
Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.43. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hess had a negative return on equity of 6.04% and a negative net margin of 59.77%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.07) earnings per share. On average, analysts anticipate that Hess will post -0.39 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in HES. LPL Financial LLC raised its holdings in Hess by 103.1% in the first quarter. LPL Financial LLC now owns 25,486 shares of the oil and gas producer’s stock worth $1,290,000 after purchasing an additional 12,938 shares in the last quarter. Suntrust Banks Inc. raised its holdings in Hess by 13.6% in the first quarter. Suntrust Banks Inc. now owns 14,850 shares of the oil and gas producer’s stock worth $750,000 after purchasing an additional 1,777 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Hess by 44.0% in the second quarter. IFM Investors Pty Ltd now owns 12,858 shares of the oil and gas producer’s stock worth $860,000 after purchasing an additional 3,926 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Hess by 27.1% in the second quarter. State of Alaska Department of Revenue now owns 57,638 shares of the oil and gas producer’s stock worth $3,854,000 after purchasing an additional 12,300 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in Hess by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 32,138 shares of the oil and gas producer’s stock worth $2,150,000 after purchasing an additional 831 shares in the last quarter. Institutional investors and hedge funds own 88.72% of the company’s stock.
Hess Corporation, an exploration and production company, 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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