Hess (NYSE:HES) Rating Increased to Outperform at Wolfe Research

Hess (NYSE:HES) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Monday, MarketBeat.com reports. The firm currently has a $150.00 price target on the oil and gas producer’s stock. Wolfe Research’s price target suggests a potential upside of 7.94% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Wells Fargo & Company cut their price target on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Citigroup lowered their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Susquehanna dropped their target price on Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, UBS Group reduced their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hess presently has an average rating of “Moderate Buy” and a consensus price target of $165.15.

Hess Stock Performance

HES stock opened at $138.96 on Monday. The stock’s 50 day simple moving average is $135.79 and its 200 day simple moving average is $146.39. Hess has a 12-month low of $123.79 and a 12-month high of $167.75. The firm has a market cap of $42.81 billion, a P/E ratio of 21.28 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that Hess will post 10.46 EPS for the current year.

Institutional Trading of Hess

A number of hedge funds and other institutional investors have recently made changes to their positions in HES. Manchester Capital Management LLC boosted its holdings in shares of Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after acquiring an additional 68 shares in the last quarter. Drive Wealth Management LLC boosted its stake in Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after purchasing an additional 72 shares in the last quarter. Quent Capital LLC boosted its stake in Hess by 7.3% during the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after purchasing an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 77 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock worth $80,000 after buying an additional 78 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Company Profile

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