Piper Jaffray Companies set a $61.00 price target on Hess (NYSE:HES) in a research report report published on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the oil and gas producer’s stock.

HES has been the subject of several other research reports. Zacks Investment Research upgraded Hess from a hold rating to a buy rating and set a $72.00 target price for the company in a research note on Tuesday, April 30th. Morgan Stanley set a $69.00 target price on Hess and gave the company a buy rating in a research note on Monday, June 24th. Wells Fargo & Co restated a buy rating on shares of Hess in a research note on Wednesday, July 31st. MKM Partners upgraded Hess from a neutral rating to a buy rating and set a $75.00 target price for the company in a research note on Tuesday, May 28th. Finally, Barclays initiated coverage on Hess in a research note on Monday. They set an overweight rating and a $93.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Hess presently has an average rating of Hold and an average target price of $70.38.

Shares of NYSE HES traded up $3.33 during mid-day trading on Friday, reaching $63.15. 3,583,759 shares of the company traded hands, compared to its average volume of 3,449,035. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58. The stock has a market cap of $18.15 billion, a PE ratio of -85.34 and a beta of 1.97. The company’s fifty day moving average is $61.37 and its two-hundred day moving average is $60.34. Hess has a fifty-two week low of $35.59 and a fifty-two week high of $74.81.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. Hess had a return on equity of 0.46% and a net margin of 1.09%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) EPS. Research analysts forecast that Hess will post -0.39 earnings per share for the current year.

In other Hess news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $57.18, for a total value of $417,699.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Turner sold 11,258 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.71, for a total value of $694,731.18. The disclosure for this sale can be found here. Insiders sold a total of 48,908 shares of company stock valued at $3,090,015 in the last quarter. Corporate insiders own 12.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Hess by 66.0% during the 1st quarter. FMR LLC now owns 31,017,189 shares of the oil and gas producer’s stock worth $1,868,166,000 after buying an additional 12,335,629 shares during the period. Vanguard Group Inc. lifted its position in shares of Hess by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 29,992,051 shares of the oil and gas producer’s stock worth $1,906,595,000 after buying an additional 520,350 shares during the period. BlackRock Inc. lifted its position in shares of Hess by 0.5% during the 2nd quarter. BlackRock Inc. now owns 17,524,583 shares of the oil and gas producer’s stock worth $1,114,037,000 after buying an additional 89,217 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Hess by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,447,455 shares of the oil and gas producer’s stock worth $600,575,000 after buying an additional 99,168 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Hess by 0.5% during the 1st quarter. Primecap Management Co. CA now owns 8,332,535 shares of the oil and gas producer’s stock worth $501,869,000 after buying an additional 39,500 shares during the period. Institutional investors and hedge funds own 96.84% of the company’s stock.

About Hess

Hess Corporation, an exploration and production company, explores for, 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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Analyst Recommendations for Hess (NYSE:HES)

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