UBS Group Trims Hess (NYSE:HES) Target Price to $193.00

Hess (NYSE:HES) had its price objective decreased by UBS Group from $212.00 to $193.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the oil and gas producer’s stock.

HES has been the subject of a number of other research reports. Mizuho lifted their price target on shares of Hess from $205.00 to $210.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Scotiabank decreased their price target on shares of Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Piper Sandler boosted their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an overweight rating in a research report on Thursday, April 18th. StockNews.com began coverage on shares of Hess in a research report on Friday, June 28th. They set a hold rating for the company. Finally, Sanford C. Bernstein upgraded shares of Hess from a market perform rating to an outperform rating and boosted their price objective for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $178.42.

Hess Trading Up 0.2 %

NYSE HES opened at $136.59 on Wednesday. The firm has a 50 day simple moving average of $145.05 and a 200-day simple moving average of $149.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.10 and a current ratio of 1.27. Hess has a one year low of $130.35 and a one year high of $167.75. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 20.92 and a beta of 1.16.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. Equities research analysts anticipate that Hess will post 11.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Hess

A number of institutional investors have recently modified their holdings of the business. Creative Planning increased its stake in Hess by 3.4% in the 2nd quarter. Creative Planning now owns 19,128 shares of the oil and gas producer’s stock valued at $2,822,000 after buying an additional 633 shares during the period. Algert Global LLC increased its stake in Hess by 53.0% in the 2nd quarter. Algert Global LLC now owns 2,920 shares of the oil and gas producer’s stock valued at $431,000 after buying an additional 1,011 shares during the period. Sculptor Capital LP increased its stake in Hess by 188.7% in the 2nd quarter. Sculptor Capital LP now owns 765,542 shares of the oil and gas producer’s stock valued at $112,933,000 after buying an additional 500,342 shares during the period. Legal & General Group Plc increased its stake in Hess by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock valued at $361,691,000 after buying an additional 150,945 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Hess in the 2nd quarter valued at $1,050,000. 88.51% of the stock is owned by institutional investors and hedge funds.

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.