Hess (HES) Downgraded by ValuEngine

Hess (NYSE:HES) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently issued reports on HES. Mizuho started coverage on Hess in a report on Monday, July 23rd. They set a “neutral” rating and a $80.00 price objective on the stock. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Monday, July 23rd. Morgan Stanley reaffirmed a “buy” rating and set a $87.00 price objective (up previously from $84.00) on shares of Hess in a report on Tuesday, September 18th. Bank of America set a $80.00 price objective on Hess and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $60.00 price objective on shares of Hess in a report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Hess presently has an average rating of “Hold” and a consensus price target of $66.71.

Shares of HES traded down $1.49 on Thursday, hitting $56.35. The company’s stock had a trading volume of 3,465,723 shares, compared to its average volume of 3,727,017. 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 has a fifty-two week low of $40.37 and a fifty-two week high of $74.81.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.43. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hess had a negative return on equity of 2.64% and a negative net margin of 47.06%. Hess’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.07) EPS. On average, sell-side analysts predict that Hess will post -0.14 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the business. Chicago Equity Partners LLC raised its position in shares of Hess by 4.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 85,545 shares of the oil and gas producer’s stock valued at $6,123,000 after acquiring an additional 3,645 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Hess during the 3rd quarter valued at $423,000. Robeco Institutional Asset Management B.V. raised its position in shares of Hess by 56.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 56,924 shares of the oil and gas producer’s stock valued at $4,075,000 after acquiring an additional 20,567 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Hess by 151.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,896 shares of the oil and gas producer’s stock valued at $279,000 after acquiring an additional 2,346 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its position in shares of Hess by 26.5% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 126,709 shares of the oil and gas producer’s stock valued at $9,070,000 after acquiring an additional 26,544 shares during the last quarter. Institutional investors own 88.72% 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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