J P Morgan Chase & Co lowered shares of Hess (NYSE:HES) from a neutral rating to an underweight rating in a research note issued to investors on Friday, Marketbeat reports. The firm currently has $44.00 target price on the oil and gas producer’s stock.

A number of other equities research analysts have also commented on HES. Credit Suisse Group assumed coverage on Hess in a research report on Monday, December 11th. They issued an underperform rating and a $38.00 target price on the stock. Morgan Stanley reiterated an equal weight rating on shares of Hess in a research report on Saturday, September 16th. Scotiabank set a $50.00 price objective on Hess and gave the stock a buy rating in a research report on Friday, November 17th. Zacks Investment Research lowered Hess from a buy rating to a hold rating in a research report on Wednesday, November 8th. Finally, BMO Capital Markets set a $45.00 price objective on Hess and gave the stock a hold rating in a research report on Tuesday, October 10th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Hess presently has a consensus rating of Hold and an average target price of $50.87.

Shares of Hess (NYSE:HES) opened at $43.40 on Friday. Hess has a 52-week low of $37.25 and a 52-week high of $64.91. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.29) by $0.22. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. Hess had a negative return on equity of 9.30% and a negative net margin of 113.21%. Hess’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.12) earnings per share. equities analysts anticipate that Hess will post -4.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be given a $0.25 dividend. The ex-dividend date is Friday, December 15th. This represents a $1.00 annualized dividend and a yield of 2.30%. Hess’s dividend payout ratio is presently -4.95%.

In other news, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Hess by 7.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 167 shares during the period. Legacy Advisors LLC acquired a new position in shares of Hess during the 3rd quarter worth approximately $134,000. Advisor Group Inc. raised its stake in shares of Hess by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 362 shares during the period. Point View Wealth Management Inc. acquired a new position in shares of Hess during the 3rd quarter worth approximately $208,000. Finally, Wesbanco Bank Inc. acquired a new position in shares of Hess during the 3rd quarter worth approximately $220,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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About Hess

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Analyst Recommendations for Hess (NYSE:HES)

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