Hess (NYSE:HES) Price Target Lowered to $146.58 at Scotiabank

Hess (NYSE:HES) had its target price decreased by equities research analysts at Scotiabank from $164.00 to $146.58 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price target would indicate a potential upside of 14.14% from the stock’s previous close.

Other research analysts have also issued reports about the company. StockNews.com initiated coverage on Hess in a research note on Friday. They set a “hold” rating for the company. UBS Group increased their target price on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $168.56.

Hess Price Performance

Shares of NYSE:HES traded up $1.26 during midday trading on Friday, reaching $128.42. 2,252,816 shares of the company’s stock were exchanged, compared to its average volume of 1,891,304. The firm has a market capitalization of $39.59 billion, a PE ratio of 14.27 and a beta of 0.88. The company’s 50 day simple moving average is $146.95 and its two-hundred day simple moving average is $142.57. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES) last announced its quarterly earnings results 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 net margin of 21.27% and a return on equity of 26.32%. Equities research analysts expect that Hess will post 8.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hess

Several hedge funds have recently bought and sold shares of the company. J.Safra Asset Management Corp bought a new position in Hess in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in Hess in the fourth quarter valued at $27,000. Millstone Evans Group LLC bought a new position in shares of Hess in the 4th quarter valued at about $33,000. Rialto Wealth Management LLC acquired a new position in shares of Hess during the 4th quarter worth about $37,000. Finally, Zions Bancorporation N.A. raised its holdings in shares of Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 203 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Company Profile

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.