Cowen and Company set a $50.00 price target on Hess Corp. (NYSE:HES) in a research report sent to investors on Wednesday, July 19th. The brokerage currently has a hold rating on the oil and gas producer’s stock.
A number of other research firms also recently issued reports on HES. Capital One Financial Corporation downgraded shares of Hess Corp. from an equal weight rating to an underweight rating and cut their price objective for the stock from $65.00 to $50.00 in a report on Wednesday, June 21st. Atlantic Securities downgraded shares of Hess Corp. from an overweight rating to a neutral rating and cut their price objective for the stock from $68.00 to $45.00 in a report on Tuesday, June 27th. Wolfe Research raised shares of Hess Corp. from a market perform rating to an outperform rating in a report on Monday, April 10th. Scotiabank set a $53.00 price objective on shares of Hess Corp. and gave the stock a buy rating in a report on Tuesday, May 16th. Finally, Barclays PLC reissued a hold rating and issued a $61.00 price target (down from $64.00) on shares of Hess Corp. in a report on Friday, April 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Hess Corp. currently has an average rating of Hold and an average target price of $53.91.
Shares of Hess Corp. (NYSE HES) opened at 43.01 on Wednesday. The firm’s 50 day moving average is $43.32 and its 200-day moving average is $48.15. The firm’s market cap is $13.52 billion. Hess Corp. has a 52 week low of $39.89 and a 52 week high of $65.56.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by $0.14. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Hess Corp. had a negative net margin of 33.96% and a negative return on equity of 13.21%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.10) EPS. Equities research analysts predict that Hess Corp. will post ($4.75) EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Andra AP fonden boosted its stake in shares of Hess Corp. by 111.4% in the second quarter. Andra AP fonden now owns 22,200 shares of the oil and gas producer’s stock valued at $974,000 after buying an additional 11,700 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Hess Corp. by 72.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 19,442 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 8,187 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its stake in shares of Hess Corp. by 12.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 86,680 shares of the oil and gas producer’s stock valued at $3,803,000 after buying an additional 9,300 shares in the last quarter. Aviva PLC boosted its stake in shares of Hess Corp. by 0.5% in the second quarter. Aviva PLC now owns 464,728 shares of the oil and gas producer’s stock valued at $20,383,000 after buying an additional 2,540 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Hess Corp. by 1.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 856,994 shares of the oil and gas producer’s stock valued at $37,596,000 after buying an additional 8,275 shares in the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
Hess Corp. Company Profile
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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