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

Investment analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research note issued on Wednesday. The firm set a “hold” rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on the stock. UBS Group lifted their price target on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Citigroup increased their price target on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Stock Down 0.9 %

Shares of HES opened at $159.10 on Wednesday. The firm has a 50 day simple moving average of $147.64 and a two-hundred day simple moving average of $141.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess has a one year low of $123.79 and a one year high of $163.98. The company has a market cap of $49.05 billion, a P/E ratio of 17.68 and a beta of 1.21.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. Research analysts forecast that Hess will post 8.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Hess during the 4th quarter worth approximately $3,117,000. Manning & Napier Advisors LLC bought a new stake in Hess during the fourth quarter worth $2,274,000. Czech National Bank raised its holdings in shares of Hess by 6.4% in the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock valued at $7,971,000 after purchasing an additional 3,625 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hess by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock valued at $244,483,000 after buying an additional 82,703 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Hess by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after acquiring an additional 1,861 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

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.