Hess (HES) Receives a Buy from Wells Fargo

Wells Fargo analyst Roger Read maintained a Buy rating on Hess (HES) yesterday. The company’s shares closed last Monday at $43.84.

According to TipRanks.com, Read is a 1-star analyst with an average return of -3.0% and a 42.9% success rate. Read covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Delek US Holdings, and Conocophillips.

Hess has an analyst consensus of Moderate Buy, with a price target consensus of $58.86, a 36.0% upside from current levels. In a report issued on September 9, Merrill Lynch also maintained a Buy rating on the stock with a $70.00 price target.

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The company has a one-year high of $74.11 and a one-year low of $26.06. Currently, Hess has an average volume of 2.07M.

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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas. The Midstream segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.

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