Hess (NYSE:HES) Now Covered by Susquehanna Bancshares

Susquehanna Bancshares started coverage on shares of Hess (NYSE:HES) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set a “positive” rating and a $82.00 price target on the oil and gas producer’s stock. Susquehanna Bancshares’ price objective suggests a potential upside of 17.01% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Howard Weil initiated coverage on Hess in a research report on Wednesday, November 13th. They set a “sector underperform” rating for the company. Citigroup initiated coverage on Hess in a research report on Monday, September 23rd. They set a “neutral” rating and a $70.00 price objective for the company. Scotiabank initiated coverage on Hess in a research report on Tuesday, November 12th. They set an “underperform” rating for the company. ValuEngine raised Hess from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Cowen initiated coverage on Hess in a research report on Thursday, December 5th. They set a “market perform” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $73.27.

NYSE:HES opened at $70.08 on Tuesday. The stock has a 50-day simple moving average of $65.41 and a 200-day simple moving average of $64.18. The stock has a market cap of $21.35 billion, a P/E ratio of -94.70 and a beta of 2.02. Hess has a 1 year low of $50.08 and a 1 year high of $74.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.33 and a current ratio of 1.45.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported ($0.32) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Hess had a negative return on equity of 1.62% and a negative net margin of 2.82%. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities research analysts predict that Hess will post -0.74 EPS for the current year.

In other news, CFO John P. Rielly sold 49,740 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $70.54, for a total value of $3,508,659.60. Following the completion of the sale, the chief financial officer now directly owns 238,859 shares of the company’s stock, valued at approximately $16,849,113.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard D. Lynch sold 36,329 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $73.75, for a total value of $2,679,263.75. Following the completion of the sale, the senior vice president now directly owns 21,333 shares of the company’s stock, valued at $1,573,308.75. The disclosure for this sale can be found here. 12.22% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in Hess by 9,413.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,415,474 shares of the oil and gas producer’s stock valued at $89,982,000 after acquiring an additional 1,400,596 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 valued at $1,906,595,000 after acquiring an additional 520,350 shares during the last quarter. Invesco Ltd. raised its stake in Hess by 5.8% during the 2nd quarter. Invesco Ltd. now owns 6,584,222 shares of the oil and gas producer’s stock valued at $418,559,000 after acquiring an additional 360,041 shares during the last quarter. Holocene Advisors LP raised its stake in Hess by 112.9% during the 2nd quarter. Holocene Advisors LP now owns 356,971 shares of the oil and gas producer’s stock valued at $22,693,000 after acquiring an additional 189,284 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in Hess during the 3rd quarter valued at approximately $7,825,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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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