KLR Group Starts Hess Corp. (HES) at Accumulate
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KLR Group initiates coverage on Hess Corp. (NYSE: HES) with a Accumulate rating and a price target of $65.00.
Analyst John Gerdes commented, "We are initiating coverage of HES with an Accumulate rating and $65 per share target price. Hess’s mid-cycle (’18) capital yield of 120%-125% is slightly below the industry median cash recycle ratio of ~125%. Our ’16 production expectation of ~323 Mboepd is in the upper half of company guidance (315-325 Mboepd)"
Shares of Hess Corp. closed at $49.92 yesterday.
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