Stephens Initiates Coverage on Hess (HES)

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Analysts at Stephens assumed coverage on shares of Hess (NYSE:HES) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $75.00 price target on the oil and gas producer’s stock. Stephens’ target price indicates a potential upside of 42.56% from the company’s previous close.

A number of other research firms also recently commented on HES. Piper Jaffray Companies reaffirmed a “hold” rating and set a $76.00 target price on shares of Hess in a report on Monday, November 19th. Mizuho set a $55.00 price target on Hess and gave the company a “hold” rating in a report on Wednesday, November 28th. Morgan Stanley decreased their price target on Hess from $92.00 to $91.00 and set a “buy” rating for the company in a report on Monday, November 5th. ValuEngine downgraded Hess from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Credit Suisse Group set a $61.00 price target on Hess and gave the company a “hold” rating in a report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Hess presently has an average rating of “Hold” and an average price target of $68.87.

Hess stock opened at $52.61 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. Hess has a 52 week low of $40.37 and a 52 week high of $74.81. The stock has a market cap of $15.81 billion, a P/E ratio of -11.41, a PEG ratio of 533.70 and a beta of 1.55.

Hess (NYSE:HES) last released its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.43. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted ($1.07) earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Hess will post 0.02 EPS for the current fiscal year.

In other news, insider Michael R. Turner sold 4,142 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total transaction of $235,348.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.09% of the company’s stock.

Several hedge funds have recently made changes to their positions in HES. Forsta AP Fonden acquired a new position in shares of Hess during the 2nd quarter worth approximately $34,368,000. Prudential Financial Inc. raised its stake in shares of Hess by 170.5% during the 3rd quarter. Prudential Financial Inc. now owns 804,189 shares of the oil and gas producer’s stock worth $57,564,000 after buying an additional 506,900 shares during the period. Janus Henderson Group PLC raised its stake in shares of Hess by 121.6% during the 3rd quarter. Janus Henderson Group PLC now owns 659,172 shares of the oil and gas producer’s stock worth $47,184,000 after buying an additional 361,672 shares during the period. FIL Ltd acquired a new position in shares of Hess during the 3rd quarter worth approximately $21,289,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Hess by 1,660.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 267,695 shares of the oil and gas producer’s stock worth $19,162,000 after buying an additional 252,485 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.

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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