Mizuho Analysts Give Hess (HES) a $55.00 Price Target

Mizuho set a $55.00 price target on Hess (NYSE:HES) in a report issued on Wednesday. The firm currently has a hold rating on the oil and gas producer’s stock.

Other analysts have also issued reports about the stock. KLR Group restated a hold rating and set a $74.00 price objective on shares of Hess in a research note on Monday, August 20th. Bank of America restated a buy rating and set a $86.00 price objective (up from $83.00) on shares of Hess in a research note on Monday, September 17th. Credit Suisse Group set a $61.00 price objective on shares of Hess and gave the company a hold rating in a research note on Monday, September 17th. Morgan Stanley restated a buy rating and set a $87.00 price objective (up from $84.00) on shares of Hess in a research note on Tuesday, September 18th. Finally, Piper Jaffray Companies lowered shares of Hess from an overweight rating to a neutral rating in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $67.08.

Shares of Hess stock opened at $53.89 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. The stock has a market capitalization of $16.13 billion, a P/E ratio of -11.69, a price-to-earnings-growth ratio of 544.40 and a beta of 1.55. Hess has a 1 year low of $40.37 and a 1 year high of $74.81.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.54 billion. Hess had a negative net margin of 47.06% and a negative return on equity of 2.65%. Hess’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned ($1.07) EPS. Equities research analysts expect that Hess will post 0.02 earnings per share for the current fiscal year.

In other Hess news, insider Michael R. Turner sold 4,142 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $56.82, for a total transaction of $235,348.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.09% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in shares of Hess by 0.3% during the 2nd quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock valued at $203,815,000 after acquiring an additional 7,856 shares during the last quarter. Impala Asset Management LLC boosted its holdings in shares of Hess by 8.3% during the 3rd quarter. Impala Asset Management LLC now owns 2,562,231 shares of the oil and gas producer’s stock valued at $183,404,000 after acquiring an additional 196,125 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hess by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,477 shares of the oil and gas producer’s stock valued at $162,356,000 after acquiring an additional 9,173 shares during the last quarter. Investec Asset Management LTD boosted its holdings in shares of Hess by 4.5% during the 2nd quarter. Investec Asset Management LTD now owns 2,005,513 shares of the oil and gas producer’s stock valued at $134,149,000 after acquiring an additional 87,208 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Hess by 3.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,762,886 shares of the oil and gas producer’s stock valued at $126,187,000 after acquiring an additional 65,610 shares during the last quarter. Institutional investors and hedge funds own 89.86% of the company’s stock.

About Hess

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

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Analyst Recommendations for Hess (NYSE:HES)

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