Several brokerages have updated their recommendations and price targets on shares of Hess Corporation (NYSE: HES) in the last few weeks:
- 7/28/2017 - Hess Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 7/21/2017 - Hess Corporation had its price target lowered by analysts at Citigroup Inc. from $55.00 to $49.00. They now have a “neutral” rating on the stock.
- 7/19/2017 - Hess Corporation was given a new $50.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
- 7/17/2017 - Hess Corporation was downgraded by analysts at Wolfe Research from an “outperform” rating to a “market perform” rating.
- 7/14/2017 - Hess Corporation had its price target lowered by analysts at BMO Capital Markets from $45.00 to $40.00. They now have a “market perform” rating on the stock.
- 7/12/2017 - Hess Corporation had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $50.00 price target on the stock, down previously from $61.00.
- 7/10/2017 - Hess Corporation was given a new $55.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
- 7/1/2017 - Hess Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 7/1/2017 - Hess Corporation was given a new $50.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
- 6/27/2017 - Hess Corporation was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating. They now have a $45.00 price target on the stock, down previously from $68.00.
- 6/27/2017 - Hess Corporation had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $45.00 price target on the stock.
- 6/21/2017 - Hess Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Hess Corp.’s debt load has been growing exponentially since the beginning of 2014. Moreover, during Feb 2016, when oil slumped to a 12-year low, two credit rating agencies –S&P and Moody’s – lowered the company’s debt rating below investment grade. This has hampered Hess’ ability to raise debt capital in favorable terms for financing future growth projects. On top of that, it has become increasingly difficult for the energy explorer to fund growth projects out of its own operations as the company reported net loss in 2016 and is also expecting further net loss this year. On a further bearish note, the company has lowered its 2017 production guidance and the recent asset sales will hamper output even more. We believe these factors will cause an underperformance in the Hess’ shares relative to the market as well as the sector in the coming quarters.”
- 6/21/2017 - Hess Corporation was downgraded by analysts at Capital One Financial Corporation from an “equal weight” rating to an “underweight” rating. They now have a $50.00 price target on the stock, down previously from $65.00.
- 6/20/2017 - Hess Corporation was given a new $53.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
- 6/17/2017 - Hess Corporation was given a new $55.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
- 6/2/2017 - Hess Corporation was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
- 5/30/2017 - Hess Corporation was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating. They now have a $58.00 price target on the stock, down previously from $69.00.
Hess Corporation (HES) traded up 1.86% during midday trading on Friday, hitting $44.80. 4,982,396 shares of the stock traded hands. The company’s 50-day moving average is $43.38 and its 200 day moving average is $48.67. Hess Corporation has a 12-month low of $39.89 and a 12-month high of $65.56. The firm’s market cap is $14.06 billion.
Hess Corporation (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.14. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.30%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted ($1.10) EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Hess Corporation will post ($4.45) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, June 14th. Hess Corporation’s payout ratio is -5.18%.
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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