Hess (HES) Price Target Cut to $91.00 by Analysts at Morgan Stanley

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Hess (NYSE:HES) had its target price decreased by Morgan Stanley from $92.00 to $91.00 in a report released on Monday morning. Morgan Stanley currently has a buy rating on the oil and gas producer’s stock.

Several other research analysts have also recently issued reports on HES. BMO Capital Markets restated a hold rating and issued a $60.00 price objective on shares of Hess in a research note on Thursday, July 12th. ValuEngine cut Hess from a buy rating to a hold rating in a research note on Thursday, November 1st. Zacks Investment Research cut Hess from a buy rating to a hold rating in a research note on Thursday, July 12th. Credit Suisse Group set a $61.00 price target on Hess and gave the company a hold rating in a research report on Wednesday, October 31st. Finally, Barclays upgraded Hess from an underweight rating to an equal weight rating and set a $66.00 price target for the company in a research report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Hess has an average rating of Hold and a consensus target price of $66.64.

Shares of NYSE:HES opened at $57.47 on Monday. Hess has a 52-week low of $40.37 and a 52-week high of $74.81. The stock has a market capitalization of $17.58 billion, a PE ratio of -12.47, a PEG ratio of 373.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.30 and a quick ratio of 2.29.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.43. Hess had a negative return on equity of 2.64% and a negative net margin of 47.06%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business posted ($1.07) earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts predict that Hess will post 0.03 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in Hess by 0.3% in the second quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock valued at $203,815,000 after purchasing an additional 7,856 shares during the period. Nisa Investment Advisors LLC grew its holdings in Hess by 6.3% in the second quarter. Nisa Investment Advisors LLC now owns 108,170 shares of the oil and gas producer’s stock valued at $7,235,000 after purchasing an additional 6,405 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Hess by 35.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 207,296 shares of the oil and gas producer’s stock valued at $13,866,000 after purchasing an additional 53,944 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Hess by 23.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,472 shares of the oil and gas producer’s stock valued at $3,376,000 after purchasing an additional 9,710 shares during the period. Finally, CIBC World Markets Inc. grew its holdings in Hess by 56.0% in the second quarter. CIBC World Markets Inc. now owns 105,673 shares of the oil and gas producer’s stock valued at $7,068,000 after purchasing an additional 37,928 shares during the period. Institutional investors own 88.65% of the company’s stock.

Hess Company Profile

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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