Scotiabank Trims Hess (NYSE:HES) Target Price to $157.00

Hess (NYSE:HES) had its price target lowered by analysts at Scotiabank from $165.00 to $157.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price objective points to a potential upside of 5.81% from the company’s previous close.

A number of other research firms also recently issued reports on HES. StockNews.com initiated coverage on shares of Hess in a research report on Friday, June 28th. They set a “hold” rating for the company. Susquehanna boosted their price target on Hess from $164.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Mizuho boosted their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Piper Sandler boosted their price target on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Citigroup boosted their price objective on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $178.17.

Hess Stock Performance

HES traded up $0.64 during trading on Friday, reaching $148.38. The company’s stock had a trading volume of 1,201,172 shares, compared to its average volume of 2,435,977. Hess has a 52-week low of $131.61 and a 52-week high of $167.75. The company’s fifty day moving average price is $150.59 and its 200-day moving average price is $149.03. The company has a market capitalization of $45.72 billion, a price-to-earnings ratio of 22.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23.

Hess (NYSE:HES) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. On average, equities analysts forecast that Hess will post 10.52 earnings per share for the current fiscal year.

Institutional Trading of Hess

Institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in Hess in the 1st quarter valued at about $25,000. Rise Advisors LLC purchased a new position in Hess in the 1st quarter valued at about $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Hess in the 4th quarter valued at about $27,000. Sound Income Strategies LLC purchased a new position in Hess in the 4th quarter valued at about $29,000. Finally, Cape Investment Advisory Inc. purchased a new position in Hess in the 4th quarter valued at about $32,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.