StockNews.com Begins Coverage on Hess (NYSE:HES)

Investment analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES - Get Free Report) in a research report issued on Saturday. The brokerage set a "hold" rating on the oil and gas producer's stock.

HES has been the subject of several other reports. Susquehanna lifted their price target on shares of Hess from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, October 18th. BMO Capital Markets boosted their target price on Hess from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Mizuho decreased their price target on Hess from $210.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Scotiabank lifted their price objective on Hess from $157.00 to $167.00 and gave the company a "sector perform" rating in a research report on Thursday, October 10th. Finally, Citigroup decreased their target price on Hess from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hess currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.00.

Hess Price Performance

NYSE HES traded up $3.27 during trading on Friday, reaching $137.75. 2,542,813 shares of the company traded hands, compared to its average volume of 2,127,565. Hess has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.26. The stock's 50 day moving average price is $135.31 and its two-hundred day moving average price is $144.03. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 16.05 and a beta of 1.15.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. Hess's quarterly revenue was up 12.7% on a year-over-year basis. As a group, analysts anticipate that Hess will post 9.74 EPS for the current year.

Hedge Funds Weigh In On Hess

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Hess by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer's stock worth $418,291,000 after purchasing an additional 726,631 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Hess by 76.4% during the second quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer's stock worth $227,273,000 after buying an additional 663,338 shares during the last quarter. Bank of Montreal Can grew its position in shares of Hess by 64.3% during the 2nd quarter. Bank of Montreal Can now owns 1,449,969 shares of the oil and gas producer's stock worth $218,220,000 after buying an additional 567,550 shares during the period. Marshall Wace LLP increased its stake in shares of Hess by 45.6% in the 2nd quarter. Marshall Wace LLP now owns 1,794,087 shares of the oil and gas producer's stock valued at $264,664,000 after acquiring an additional 561,832 shares during the last quarter. Finally, Sculptor Capital LP raised its position in shares of Hess by 188.7% in the 2nd quarter. Sculptor Capital LP now owns 765,542 shares of the oil and gas producer's stock valued at $112,933,000 after acquiring an additional 500,342 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

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.