Hess (NYSE:HES) PT Lowered to $151.00

Hess (NYSE:HES) had its target price dropped by analysts at Wells Fargo & Company from $171.00 to $151.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.02% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. UBS Group cut their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Piper Sandler lowered their target price on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Scotiabank cut their price target on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research assumed coverage on Hess in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, BMO Capital Markets downgraded Hess to an “overweight” rating and cut their target price for the stock from $175.00 to $160.00 in a research note on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Hess has a consensus rating of “Hold” and an average price target of $166.42.

Hess Stock Up 2.2 %

Hess stock opened at $133.61 on Friday. The firm has a 50 day moving average price of $136.24 and a 200-day moving average price of $146.60. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess has a twelve month low of $123.79 and a twelve month high of $167.75. The company has a market capitalization of $41.17 billion, a P/E ratio of 20.46 and a beta of 1.15.

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

Institutional Trading of Hess

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