Hess (HES) Given Outperform Rating at Macquarie

Macquarie restated their outperform rating on shares of Hess (NYSE:HES) in a research note issued to investors on Wednesday morning. They currently have a $58.00 price objective on the oil and gas producer’s stock, down from their previous price objective of $63.00.

Several other equities analysts have also recently issued reports on the company. Credit Suisse Group upgraded Hess from an underperform rating to a neutral rating and set a $42.00 price target on the stock in a research report on Monday, February 12th. BMO Capital Markets dropped their price target on Hess from $50.00 to $48.00 and set a market perform rating on the stock in a research report on Tuesday, February 6th. Morgan Stanley boosted their price target on Hess from $49.00 to $57.00 and gave the company an equal weight rating in a research report on Wednesday, January 24th. Barclays restated a hold rating and issued a $49.00 price target on shares of Hess in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. cut Hess from a neutral rating to an underweight rating and set a $44.00 price target on the stock. in a research report on Friday, December 15th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Hess has an average rating of Hold and an average target price of $52.11.

Hess (NYSE:HES) opened at $45.23 on Wednesday. The stock has a market capitalization of $14,565.84, a PE ratio of -3.45 and a beta of 1.58. Hess has a 52-week low of $37.25 and a 52-week high of $55.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 1.68.

Hess (NYSE:HES) last issued its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.01) EPS. equities analysts expect that Hess will post -2.1 earnings per share for the current fiscal year.

In related news, SVP Timothy B. Goodell sold 3,627 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $44.43, for a total value of $161,147.61. Following the sale, the senior vice president now owns 99,555 shares of the company’s stock, valued at approximately $4,423,228.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total value of $330,188.00. The disclosure for this sale can be found here. Insiders have sold a total of 116,347 shares of company stock worth $5,157,584 in the last three months. Corporate insiders own 11.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. CoreCommodity Management LLC purchased a new stake in Hess in the 4th quarter valued at approximately $108,000. Tower Research Capital LLC TRC lifted its stake in shares of Hess by 453.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the oil and gas producer’s stock worth $126,000 after purchasing an additional 2,172 shares during the period. NuWave Investment Management LLC purchased a new position in shares of Hess during the 4th quarter worth $141,000. Legacy Advisors LLC purchased a new position in shares of Hess during the 3rd quarter worth $134,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Hess during the 4th quarter worth $145,000. 88.61% of the stock is currently owned by hedge funds and other institutional investors.

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Hess 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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Analyst Recommendations for Hess (NYSE:HES)

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