Hess (NYSE:HES) Price Target Cut to $193.00 by Analysts at UBS Group (2024)

Hess (NYSE:HES – Free Report) had its price target lowered by UBS Group from $212.00 to $193.00 in a research note released on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also recently commented on HES. Susquehanna lowered their price target on Hess from $167.00 to $166.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Sanford C. Bernstein upgraded Hess from a market perform rating to an outperform rating and upped their target price for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Piper Sandler increased their price target on shares of Hess from $172.00 to $173.00 and gave the stock an overweight rating in a report on Thursday, April 18th. Scotiabank decreased their price objective 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. Finally, StockNews.com began coverage on shares of Hess in a research note on Friday, June 28th. They issued a hold rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $178.42.

Read Our Latest Stock Analysis on Hess

Hess Stock Performance

HES opened at $134.10 on Wednesday. The company has a market cap of $41.32 billion, a P/E ratio of 20.54 and a beta of 1.16. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $145.50 and its 200-day moving average price is $149.33. Hess has a 52-week low of $130.35 and a 52-week high of $167.75.

Hess (NYSE:HES – Get Free Report) 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, beating 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business posted $0.65 EPS. Hess’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities analysts anticipate that Hess will post 11.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Hess

Hedge funds have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Hess in the 1st quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Hess during the 4th quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in Hess in the 1st quarter valued at $27,000. Cape Investment Advisory Inc. purchased a new stake in Hess in the 4th quarter worth $32,000. Finally, Riverview Trust Co acquired a new position in Hess during the first quarter worth $36,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Company Profile

(Get Free Report)

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.

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