Wells Fargo & Co reaffirmed their buy rating on shares of Hess (NYSE:HES) in a research report released on Wednesday morning, AnalystRatings.com reports.
A number of other equities research analysts have also weighed in on HES. 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 report on Tuesday, April 30th. Capital One Financial raised shares of Hess from an underweight rating to an equal weight rating in a report on Wednesday, May 15th. ValuEngine lowered shares of Hess from a buy rating to a hold rating in a report on Wednesday, May 1st. MKM Partners raised shares of Hess from a neutral rating to a buy rating and set a $75.00 price target for the company in a report on Tuesday, May 28th. Finally, Morgan Stanley set a $69.00 price target on shares of Hess and gave the company a buy rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $69.46.
Shares of Hess stock traded down $1.71 during trading hours on Wednesday, hitting $61.95. The company’s stock had a trading volume of 3,033,913 shares, compared to its average volume of 2,826,634. The firm has a fifty day moving average price of $61.48. The firm has a market cap of $19.32 billion, a P/E ratio of -83.72 and a beta of 1.97. Hess has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 0.68.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.52 billion. Hess had a net margin of 1.09% and a return on equity of 0.46%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned ($0.23) EPS. Analysts anticipate that Hess will post -0.39 EPS for the current year.
In other Hess news, COO Gregory P. Hill sold 63,806 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $66.62, for a total transaction of $4,250,755.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael R. Turner sold 25,170 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $63.20, for a total transaction of $1,590,744.00. Following the transaction, the insider now owns 92,812 shares in the company, valued at $5,865,718.40. The disclosure for this sale can be found here. Insiders have sold a total of 140,158 shares of company stock worth $9,196,837 over the last quarter. 12.22% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Institute for Wealth Management LLC. increased its stake in Hess by 4.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 9,291 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 430 shares during the period. Comerica Bank increased its stake in Hess by 1.4% during the 2nd quarter. Comerica Bank now owns 52,020 shares of the oil and gas producer’s stock valued at $3,103,000 after buying an additional 731 shares during the period. Twin Capital Management Inc. acquired a new position in Hess during the 2nd quarter valued at about $788,000. Coastal Investment Advisors Inc. increased its stake in Hess by 79.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 573 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 254 shares during the period. Finally, Seelaus Asset Management LLC increased its stake in Hess by 19.8% during the 2nd quarter. Seelaus Asset Management LLC now owns 4,850 shares of the oil and gas producer’s stock valued at $308,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
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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