Hess (HES) Received its Third Buy in a Row

By Carrie Williams

After MKM Partners and Morgan Stanley gave Hess (NYSE: HES) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Roger Read maintained a Buy rating on Hess yesterday. The company’s shares closed yesterday at $65.38.

According to TipRanks.com, Read is a 3-star analyst with an average return of 1.9% and a 56.3% success rate. Read covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Exxon Mobil, and Phillips 66.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hess with a $70.25 average price target, representing a 7.4% upside. In a report issued on June 24, Morgan Stanley also maintained a Buy rating on the stock with a $69 price target.

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The company has a one-year high of $74.81 and a one-year low of $35.59. Currently, Hess has an average volume of 3.16M.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.

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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.