Hess (NYSE:HES) had its target price boosted by stock analysts at UBS Group from $37.00 to $49.00 in a research report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price target suggests a potential downside of 1.88% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Citigroup upgraded Hess from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $60.00 in a research note on Tuesday, June 2nd. Goldman Sachs Group upgraded Hess from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Monday, March 16th. ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Morgan Stanley raised their price objective on Hess from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Co lowered their target price on Hess from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.25.
Shares of HES opened at $49.94 on Monday. Hess has a 12-month low of $26.06 and a 12-month high of $74.11. The business’s fifty day moving average is $49.44 and its 200 day moving average is $51.83. The company has a quick ratio of 2.07, a current ratio of 2.19 and a debt-to-equity ratio of 1.07. The stock has a market cap of $15.34 billion, a P/E ratio of -5.30 and a beta of 2.25.
Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.05. Hess had a negative return on equity of 5.06% and a negative net margin of 45.64%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $0.09 EPS. The business’s revenue was down 14.4% on a year-over-year basis. On average, analysts expect that Hess will post -2.07 EPS for the current year.
In other Hess news, COO Gregory P. Hill sold 19,500 shares of Hess stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $51.68, for a total transaction of $1,007,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew P. Slentz sold 4,200 shares of Hess stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $57.58, for a total value of $241,836.00. The disclosure for this sale can be found here. Company insiders own 11.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of HES. Piedmont Investment Advisors Inc. grew its holdings in Hess by 22.1% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,913 shares of the oil and gas producer’s stock valued at $328,000 after buying an additional 889 shares in the last quarter. Prudential Financial Inc. grew its holdings in Hess by 3.7% during the 4th quarter. Prudential Financial Inc. now owns 244,560 shares of the oil and gas producer’s stock valued at $16,339,000 after buying an additional 8,750 shares in the last quarter. Eaton Vance Management boosted its position in shares of Hess by 97.6% during the 4th quarter. Eaton Vance Management now owns 198,455 shares of the oil and gas producer’s stock valued at $13,259,000 after acquiring an additional 98,006 shares during the last quarter. Doyle Wealth Management bought a new stake in shares of Hess during the 4th quarter valued at about $200,000. Finally, Paradigm Asset Management Co. LLC boosted its position in shares of Hess by 5.3% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 15,830 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 800 shares during the last quarter. 87.45% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: Dead Cat Bounce
Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.