Hess Corp. (HES) is Downgraded by Credit Suisse to Neutral

Hess Corp. (HES) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Hess Corp.. Company shares were Reiterated by Scotia Howard Weil on Apr 19, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 69 from a previous price target of $59 .Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 54 from a previous price target of $48 .Hess Corp. was Upgraded by Atlantic Equities to ” Overweight” on Mar 22, 2016.

On the company’s financial health, Hess Corp. reported $-1.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $-1.83. The company had revenue of $993.00 million for the quarter, compared to analysts expectations of $1004.80 million. The company’s revenue was down -35.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.98 EPS.

Hess Corp. closed down -1.98 points or -3.13% at $61.27 with 84,47,385 shares getting traded on Wednesday. Post opening the session at $62, the shares hit an intraday low of $60.7 and an intraday high of $63.76 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 30, 2016, Brian D. Truelove (Senior Vice President) sold 3,000 shares at $50.10 per share price. According to the SEC, on Mar 8, 2016, John P Rielly (Senior Vice President and CFO) sold 5,707 shares at $49.28 per share price. On Mar 8, 2016, Michael R Turner (Senior Vice President) sold 4,643 shares at $49.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Hess Corporation (Hess) is an exploration and production (E&P) company that develops produces purchases transports and sells crude oil and natural gas. Its production operations are located primarily in the United States Denmark Equatorial Guinea the Joint Development Area of Malaysia/Thailand Malaysia and Norway. The Company’s production in the United States was from offshore properties in the Gulf of Mexico and onshore properties in the Bakken oil shale play in the Williston Basin of North Dakota the Permian Basin of Texas and the Utica Basin of Ohio. Approximately 16% of the Company’s crude oil and natural gas liquids production and 7% of its natural gas production were from European operations. Approximately 22% of the Company’s crude oil and natural gas liquids production were from its African operations. Approximately 1% of the Company’s crude oil and natural gas liquids production and 61% of its natural gas production were from its Asian and Other operations.

Hess Corp.

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