In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Hess (HES), with a price target of $49.00. The company’s shares closed last Monday at $49.11.
According to TipRanks.com, McDermott is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -8.3% and a 32.5% success rate. McDermott covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Chesapeake Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hess with a $50.88 average price target, which is a 15.5% upside from current levels. In a report issued on May 8, Susquehanna also maintained a Buy rating on the stock with a $54.00 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 4.5M.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HES in relation to earlier this year.
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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.
