Hess Corp.’s (NYSE:HES) “Equal Weight” Rating Reaffirmed at Barclays PLC
Barclays PLC reissued their equal weight rating on shares of Hess Corp. (NYSE:HES) in a research note published on Wednesday, July 12th. They currently have a $50.00 price objective on the oil and gas producer’s stock, down from their previous price objective of $61.00.
A number of other analysts have also issued reports on HES. BMO Capital Markets set a $55.00 price target on shares of Hess Corp. and gave the stock a hold rating in a research report on Saturday, June 17th. Scotiabank set a $50.00 price objective on Hess Corp. and gave the stock a buy rating in a report on Saturday, July 1st. BidaskClub upgraded Hess Corp. from a strong sell rating to a sell rating in a report on Saturday, July 1st. KLR Group restated a buy rating and issued a $60.00 price objective (up previously from $58.00) on shares of Hess Corp. in a research note on Saturday, April 29th. Finally, Goldman Sachs Group, Inc. (The) cut Hess Corp. from a buy rating to a neutral rating and reduced their target price for the stock from $69.00 to $58.00 in a research report on Tuesday, May 30th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Hess Corp. has an average rating of Hold and an average price target of $53.91.
Hess Corp. (NYSE HES) opened at 42.86 on Wednesday. The stock has a 50 day moving average of $43.32 and a 200-day moving average of $48.15. The firm’s market cap is $13.48 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 data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.14. Hess Corp. had a negative net margin of 33.96% and a negative return on equity of 13.21%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted ($1.10) earnings per share. Hess Corp.’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that Hess Corp. will post ($4.77) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Investors Inc. PA raised its stake in Hess Corp. by 47.7% in the fourth quarter. Federated Investors Inc. PA now owns 2,577 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 832 shares during the period. Thrivent Financial for Lutherans raised its stake in Hess Corp. by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,320 shares of the oil and gas producer’s stock valued at $581,000 after buying an additional 490 shares during the period. Putnam Investments LLC raised its stake in Hess Corp. by 13.0% in the fourth quarter. Putnam Investments LLC now owns 27,591 shares of the oil and gas producer’s stock valued at $1,718,000 after buying an additional 3,184 shares during the period. Dodge & Cox bought a new stake in Hess Corp. during the fourth quarter valued at about $256,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Hess Corp. during the fourth quarter valued at $619,000. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
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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