Barclays Maintains an 'Overweight' on Hess Corp. (HES); Q1 Preview

Barclays maintains an 'Overweight' on Hess Corp. (NYSE: HES) price target of $90.00.

Analyst, Paul Y. Cheng, said, "We forecast upstream earnings of $535 million, down 20% y-o-y and up 2% q-o-q...We estimate E&P unit profitability at $19.7/boe, up 6% y-o-y and 27% q-o-q...We expect downstream earnings of $32 million compared to -$36 million in 4Q11 and $39 million in 1Q11."

Cheng sees Q1 EPS of $1.37 (consensus is $1.52)

For an analyst ratings summary and ratings history on Hess Corp. click here. For more ratings news on Hess Corp. click here.

Shares of Hess Corp. closed at $55.07 yesterday.

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