Hess Corp. (HES) Receives Average Rating of “Hold” from Brokerages

Shares of Hess Corp. (NYSE:HES) have been assigned a consensus recommendation of “Hold” from the twenty analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $53.91.

HES has been the subject of a number of recent research reports. Scotiabank set a $53.00 target price on shares of Hess Corp. and gave the company a “buy” rating in a research report on Tuesday, June 20th. Barclays PLC reaffirmed a “hold” rating and set a $61.00 price objective (down previously from $64.00) on shares of Hess Corp. in a research report on Friday, April 14th. KLR Group reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $58.00) on shares of Hess Corp. in a research report on Saturday, April 29th. Citigroup Inc. cut their price objective on shares of Hess Corp. from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Finally, BidaskClub raised shares of Hess Corp. from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st.

Shares of Hess Corp. (NYSE:HES) traded up 1.10% during trading on Tuesday, hitting $43.33. 730,302 shares of the stock were exchanged. Hess Corp. has a 1-year low of $39.89 and a 1-year high of $65.56. The firm’s 50-day moving average is $43.32 and its 200 day moving average is $48.15. The company’s market cap is $13.62 billion.

Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.14. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hess Corp. had a negative net margin of 33.96% and a negative return on equity of 13.21%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) EPS. Equities analysts forecast that Hess Corp. will post ($4.75) earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in Hess Corp. during the fourth quarter valued at about $619,000. Chevy Chase Trust Holdings Inc. increased its position in Hess Corp. by 3.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 234,861 shares of the oil and gas producer’s stock valued at $11,323,000 after buying an additional 8,333 shares in the last quarter. Manning & Napier Advisors LLC increased its position in Hess Corp. by 99.1% in the first quarter. Manning & Napier Advisors LLC now owns 29,946 shares of the oil and gas producer’s stock valued at $1,442,000 after buying an additional 14,905 shares in the last quarter. Creative Planning increased its position in Hess Corp. by 33.8% in the first quarter. Creative Planning now owns 13,057 shares of the oil and gas producer’s stock valued at $630,000 after buying an additional 3,296 shares in the last quarter. Finally, National Pension Service increased its position in Hess Corp. by 12.9% in the first quarter. National Pension Service now owns 263,597 shares of the oil and gas producer’s stock valued at $12,911,000 after buying an additional 30,207 shares in the last quarter. 85.80% of the stock is owned by institutional investors.

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About Hess Corp.

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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