Hess Corp Stock Rating Reaffirmed by Oppenheimer (HES)

Posted by: Hossein Forouzandeh Posted date: March 14, 2013 In: Analyst Articles - US, Investing

Hess Corp (NYSE: HES)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer in a report released on Wednesday. They currently have a $85.00 target price on the stock.

Hess Corp traded up 2.01% on Wednesday, hitting $71.69. Hess Corp has a 52-week low of $39.67 and a 52-week high of $70.85. The stock’s 50-day moving average is currently $66.23. The company has a market cap of $24.276 billion and a price-to-earnings ratio of 11.81.

Hess Corp last posted its quarterly earnings results on Wednesday, January 30th. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.41 by $0.25. The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the prior year, the company posted ($0.39) earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Hess Corp will post $6.27 earnings per share for the current fiscal year.

A number of other firms have also recently commented on HES. Analysts at TheStreet reiterated a “buy” rating on shares of Hess Corp in a research note to investors on Tuesday. Separately, analysts at Credit Suisse raised their price target on shares of Hess Corp from $74.00 to $83.00 in a research note to investors on Wednesday, March 6th. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Hess Corp in a research note to investors on Tuesday, March 5th.

Eight equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, and thirteen have issued a hold rating to the stock. The stock presently has an average rating of “overweight” and an average target price of $75.43.

The company also recently announced a quarterly dividend, which is scheduled for Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, March 13th.

Hess Corporation (Hess) is a global integrated energy company that operates in two segments: Exploration and Production (E&P) and Marketing and Refining (M&R).

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