UBS Group Boosts Hess (NYSE:HES) Price Target to $49.00

Hess (NYSE:HES) had its price target increased by UBS Group from $37.00 to $49.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price suggests a potential downside of 1.88% from the company’s previous close.

A number of other research analysts also recently issued reports on HES. BMO Capital Markets raised Hess from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $70.00 to $47.00 in a report on Monday, March 16th. Mizuho upped their price target on Hess from $45.00 to $53.00 in a report on Friday, June 19th. Credit Suisse Group upped their price target on Hess from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Morgan Stanley increased their target price on Hess from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, Citigroup raised Hess from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $60.00 in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $60.25.

Shares of NYSE:HES opened at $49.94 on Monday. The company has a market cap of $15.34 billion, a P/E ratio of -5.30 and a beta of 2.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.19 and a quick ratio of 2.07. Hess has a 1 year low of $26.06 and a 1 year high of $74.11. The stock’s fifty day moving average price is $49.44 and its 200-day moving average price is $51.83.

Hess (NYSE:HES) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hess had a negative return on equity of 5.06% and a negative net margin of 45.64%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, sell-side analysts anticipate that Hess will post -2.07 earnings per share for the current year.

In related news, SVP Andrew P. Slentz sold 4,200 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $57.58, for a total transaction of $241,836.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gregory P. Hill sold 19,500 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $51.68, for a total value of $1,007,760.00. The disclosure for this sale can be found here. Corporate insiders own 11.39% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HES. Piedmont Investment Advisors Inc. grew its position in shares of Hess by 22.1% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,913 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 889 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Hess by 3.7% during the fourth quarter. Prudential Financial Inc. now owns 244,560 shares of the oil and gas producer’s stock worth $16,339,000 after purchasing an additional 8,750 shares in the last quarter. Eaton Vance Management grew its position in shares of Hess by 97.6% during the fourth quarter. Eaton Vance Management now owns 198,455 shares of the oil and gas producer’s stock worth $13,259,000 after purchasing an additional 98,006 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Hess during the fourth quarter worth about $200,000. Finally, Paradigm Asset Management Co. LLC grew its position in shares of Hess by 5.3% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 15,830 shares of the oil and gas producer’s stock worth $1,058,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.45% 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.

Recommended Story: What is the definition of market timing?

Analyst Recommendations for Hess (NYSE:HES)

Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.