Hess (NYSE:HES) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the oil and gas producer’s stock.

Several other equities analysts also recently weighed in on the company. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Scotiabank reduced their target price on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Mizuho decreased their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group cut their price objective on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets lifted their target price on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.92.

Hess Trading Up 0.7 %

HES opened at $139.43 on Wednesday. The firm has a market capitalization of $42.96 billion, a price-to-earnings ratio of 21.43 and a beta of 1.15. The company’s 50 day simple moving average is $134.53 and its two-hundred day simple moving average is $145.98. Hess has a 1-year low of $123.79 and a 1-year high of $167.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. Hess’s quarterly revenue was up 40.3% compared to the same quarter last year. Analysts expect that Hess will post 10.46 EPS for the current fiscal year.

Institutional Trading of Hess

A number of large investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Hess in the first quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Hess during the first quarter worth about $27,000. Riverview Trust Co purchased a new position in shares of Hess during the first quarter worth about $36,000. EverSource Wealth Advisors LLC increased its position in Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares during the period. Finally, Mather Group LLC. purchased a new stake in Hess during the 1st quarter valued at approximately $52,000. 88.51% of the stock is owned by institutional investors and hedge funds.

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.