Stock analysts at Credit Suisse Group assumed coverage on shares of Hess (NYSE:HES) in a report issued on Monday. The firm set an “underperform” rating and a $38.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s target price would indicate a potential downside of 16.96% from the stock’s previous close.

A number of other research analysts also recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $42.00 price target on shares of Hess in a report on Friday, September 1st. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Thursday, November 9th. J P Morgan Chase & Co downgraded Hess from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $52.00 to $45.00 in a report on Thursday, September 14th. Scotiabank set a $52.00 price target on Hess and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley increased their price target on Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.93.

Shares of Hess (NYSE:HES) traded up $0.27 on Monday, reaching $45.76. The company had a trading volume of 2,875,400 shares, compared to its average volume of 4,132,029. Hess has a 1 year low of $37.25 and a 1 year high of $65.56. 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 quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate 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 business posted ($1.12) earnings per share. research analysts anticipate that Hess will post -4.59 EPS for the current year.

In other news, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.53, for a total transaction of $255,180.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Gregory P. Hill sold 7,400 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in HES. Bank of New York Mellon Corp raised its position in shares of Hess by 84.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,615,399 shares of the oil and gas producer’s stock worth $202,476,000 after purchasing an additional 2,117,131 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Hess by 13.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock worth $431,688,000 after purchasing an additional 1,123,000 shares during the period. Hermes Investment Management Ltd. raised its position in shares of Hess by 57.0% during the 3rd quarter. Hermes Investment Management Ltd. now owns 1,730,153 shares of the oil and gas producer’s stock worth $81,127,000 after purchasing an additional 627,795 shares during the period. Impala Asset Management LLC increased its position in Hess by 70.9% in the 3rd quarter. Impala Asset Management LLC now owns 1,409,356 shares of the oil and gas producer’s stock valued at $66,085,000 after acquiring an additional 584,640 shares during the period. Finally, Bank of Nova Scotia increased its position in Hess by 161.6% in the 2nd quarter. Bank of Nova Scotia now owns 945,876 shares of the oil and gas producer’s stock valued at $41,496,000 after acquiring an additional 584,247 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

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Hess Company Profile

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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