Scotiabank Thinks Hess’ Stock is Going to Recover

By Jason Carr

Scotiabank analyst Peter Kissel maintained a Buy rating on Hess (NYSE: HES) on March 10 and set a price target of $65. The company’s shares closed yesterday at $47.79, close to its 52-week low of $45.37.

According to, Kissel is ranked 0 out of 5 stars with an average return of -6.7% and a 35.2% success rate. Kissel covers the Basic Materials sector, focusing on stocks such as Approach Resources Inc, Petroquest Energy Inc, and Northern Oil And Gas.

Hess has an analyst consensus of Moderate Buy, with a price target consensus of $69.50.

Based on Hess’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.39 billion and GAAP net loss of $4.89 billion. In comparison, last year the company earned revenue of $1.37 billion and had a GAAP net loss of $1.82 billion.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. Earlier this month, John Hess, the CEO of HES sold 13,144 shares for a total of $670,738.

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