Credit Suisse Reaffirms Their Hold Rating on Hess (HES)

By Carrie Williams

In a report released yesterday, William Featherston from Credit Suisse maintained a Hold rating on Hess (NYSE: HES), with a price target of $61. The company’s shares closed yesterday at $57.40.

According to TipRanks.com, Featherston is a 1-star analyst with an average return of -2.0% and a 45.8% success rate. Featherston covers the Basic Materials sector, focusing on stocks such as Anadarko Petroleum, Chesapeake Energy, and Murphy Oil Corp.

Hess has an analyst consensus of Moderate Buy, with a price target consensus of $77.60, representing a 35.2% upside. In a report issued on October 30, Barclays also upgraded the stock to Hold with a $66 price target.

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Based on Hess’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.58 billion and GAAP net loss of $130 million. In comparison, last year the company earned revenue of $1.36 billion and had a GAAP net loss of $624 million.

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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 through the following segments: Exploration and Production; Midstream; and Corporate, Interest, and Other.