Hess Receives a Hold from BMO Capital

By Carrie Williams

BMO Capital analyst Phillip Jungwirth reiterated a Hold rating on Hess (NYSE: HES) yesterday and set a price target of $50. The company’s shares closed yesterday at $54.72.

According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 9.1% and a 61.2% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Rice Midstream Partners.

Currently, the analyst consensus on Hess is Hold and the average price target is $47.17, representing a -13.8% downside.

In a report issued on January 5, Barclays also maintained a Hold rating on the stock with a $49 price target.

Based on Hess’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.36 billion and GAAP net loss of $624 million. In comparison, last year the company earned revenue of $1.39 billion and had a GAAP net loss of $4.89 billion.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.