Hess (NYSE:HES) gained more than 5% yesterday after Top-rated Analyst Ryan Todd from Piper Sandler reaffirmed his Buy rating on HES stock ahead of the third-quarter results release, which is scheduled to release on October 25.
Todd raised the price target to $169 (with an upside potential of 10.2%) from $167. The analyst raised its EPS/EBITDA estimates to reflect improved price realizations. Currently, the Street expects HES to post earnings of $1.02 per share in Q3, compared with $1.89 per share reported in the prior-year period. Meanwhile, the company is expected to post revenue of $2.51 billion, compared to $2.96 billion in the prior-year quarter.
Is Hess a Good Stock to Buy?
When considering whether to invest in Hess Corp.’s stock, TipRanks’ comprehensive data sets can provide valuable insights. In the past three months, 13 analysts have given ratings to HES stock. When these ratings are combined into a consensus, the consensus rating on Hess Corp.’s stock is Strong Buy.
It is worth noting that the most profitable analyst covering HES stock in the past year has been Biju Perincheril. Their calls on HES stock have resulted in an average one-year return of 47.05%. Following Biju Perincheril’s trades on HES stock and holding each position for one year would yield a profit in 86.67% of transactions. Biju Perincheril gave a Buy rating on the stock 2 months ago.
For further research on HES stock, the Smart Score provided by TipRanks can help predict its future performance. With a Smart Score of 9, Hess Corp.’s stock is expected to outperform the markets. While past performance does not guarantee future performance, analyzing a stock’s recent price changes can provide insights. In the past 6 months, HES’s price has increased by 8.40%. Year-over-year, the stock has risen by 22.43%.
Additionally, monitoring hedge funds’ trades can be highly beneficial as hedge fund managers constantly track the stock market using sophisticated investment tools. According to TipRanks’ data, hedge funds reduced their holdings in HES by -827.03 thousand shares in the last quarter. Overall, the activity of these 15 hedge funds indicates a sentiment of Very Negative towards Hess Corp.’s stock.
About Hess Corp.
Hess Corp is an exploration and production company involved in the exploration, development, production, transportation, purchase, and sale of crude oil, natural gas liquids, and natural gas. The company operates in two segments: Exploration and Production, and Midstream. The Exploration and Production segment focuses on exploring, developing, producing, purchasing, and selling crude oil, natural gas liquids, and natural gas. The Midstream segment provides fee-based services such as crude oil and natural gas gathering, natural gas processing, fractionation of natural gas liquids, transportation of crude oil by rail, terminaling and loading of crude oil and natural gas liquids, and storage and terminaling of propane, primarily in the Bakken shale play of North Dakota. Hess Corp. was founded by Leon Hess in 1920 and has its headquarters in New York, NY.
