Hess (NYSE:HES) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Hess (NYSE:HES) in a report issued on Saturday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

Several other research firms have also recently weighed in on HES. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. UBS Group raised their price target on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Finally, Citigroup lifted their target price on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Hess Stock Down 2.0 %

Shares of HES opened at $147.96 on Friday. The company has a market capitalization of $45.59 billion, a P/E ratio of 16.44 and a beta of 1.17. Hess has a one year low of $123.79 and a one year high of $163.98. The business’s 50 day simple moving average is $141.02 and its 200-day simple moving average is $139.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, sell-side analysts predict that Hess will post 8.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Hess

Hedge funds have recently modified their holdings of the stock. J.Safra Asset Management Corp acquired a new stake in Hess in the 4th quarter valued at about $25,000. Sierra Ocean LLC bought a new position in shares of Hess in the fourth quarter valued at about $27,000. Groupama Asset Managment raised its position in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Hess during the 4th quarter worth about $33,000. Finally, Covestor Ltd boosted its holdings in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares during the period. Institutional investors own 88.51% of the company’s stock.

About Hess

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.