Hess Corp. (HES) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Hess Corp. (NYSE:HES) have earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $67.45.

Several brokerages recently commented on HES. Piper Jaffray Companies reissued a “hold” rating and set a $76.00 price objective on shares of Hess in a research report on Monday, November 19th. Morgan Stanley cut their price objective on shares of Hess from $91.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Bank of America reissued a “buy” rating and set a $85.00 price objective on shares of Hess in a research report on Tuesday, November 27th. Mizuho set a $55.00 price objective on shares of Hess and gave the company a “hold” rating in a research report on Wednesday, November 28th. Finally, Zacks Investment Research downgraded shares of Hess from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd.

In other Hess news, insider Michael R. Turner sold 4,142 shares of the company’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 legal filing with the SEC, which is accessible through this link. 12.09% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HES. Cornerstone Wealth Management LLC bought a new position in Hess during the 2nd quarter valued at about $154,000. Advisor Partners LLC lifted its stake in shares of Hess by 16.6% in the 2nd quarter. Advisor Partners LLC now owns 9,331 shares of the oil and gas producer’s stock worth $624,000 after purchasing an additional 1,328 shares during the period. Whittier Trust Co. lifted its stake in shares of Hess by 1.9% in the 2nd quarter. Whittier Trust Co. now owns 197,282 shares of the oil and gas producer’s stock worth $13,195,000 after purchasing an additional 3,689 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Hess in the 2nd quarter worth approximately $290,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Hess in the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 87.50% of the company’s stock.

HES stock traded up $2.56 during trading on Monday, hitting $56.45. 4,241,515 shares of the stock traded hands, compared to its average volume of 3,761,846. Hess has a 1 year low of $40.37 and a 1 year high of $74.81. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of -12.25, a price-to-earnings-growth ratio of 538.90 and a beta of 1.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.16 and a current ratio of 2.30.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. Hess had a negative net margin of 47.06% and a negative return on equity of 2.65%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted ($1.07) EPS. Hess’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts predict that Hess will post 0.02 earnings per share for the current fiscal year.

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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