Hess (NYSE:HES) PT Lowered to $193.00

Hess (NYSE:HES) had its price objective cut by analysts at UBS Group from $212.00 to $193.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price objective points to a potential upside of 44.32% from the stock’s previous close.

HES has been the subject of several other research reports. StockNews.com began coverage on shares of Hess in a research note on Friday, June 28th. They issued a “hold” rating for the company. Scotiabank cut their price target on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Susquehanna cut their price target on shares of Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Piper Sandler raised their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Citigroup raised their price target on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.42.

Hess Stock Down 0.2 %

Hess stock traded down $0.26 during mid-day trading on Wednesday, hitting $133.73. 23,811 shares of the company’s stock were exchanged, compared to its average volume of 2,351,508. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.78. The stock has a market cap of $41.20 billion, a P/E ratio of 20.48 and a beta of 1.16. Hess has a 1-year low of $130.35 and a 1-year high of $167.75. The stock has a 50 day moving average of $145.76 and a two-hundred day moving average of $149.43.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating 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 during 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 business’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, analysts anticipate that Hess will post 11.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Hess

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new position in Hess in the first quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in Hess in the first quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in Hess in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. bought a new position in Hess in the fourth quarter valued at approximately $32,000. Finally, Riverview Trust Co bought a new position in Hess in the first quarter valued at approximately $36,000. 88.51% of the stock is owned by institutional investors.

About Hess

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.