Standpoint Research Starts Hess Corp. (HES) at Buy; Betting Market Over-reacted

Standpoint Research initiates coverage on Hess Corp. (NYSE: HES) with a Buy. PT $60.00.

Analyst, Ronnie Moas, said, "HES shares are down more than 40% off their Q2 2011 high...the XLE is down just 15% during that time and the S&P is actually up 5%. HES is a name that ranks # 25 out of 130 Energy names according to our 155-variable computer model, but it is in the highest ranking industry within the sector according to our model and that is Oil & Gas Integrated – see second table from the top. There were quite a few orange and red marks on their profile. That being said, HES is trading at less than 9X trailing twelve months earnings of $5.55 and less than 7X consensus estimates for next year of $6.55. HES has missed estimates in each of the last four quarters and may not hit that $6.55 target...Our bet is that the market has over-reacted to the bad news and an upside surprise is not factored in."

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 $45.40 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'
• ATN International (ATNI) Misses Q1 EPS by 46c ; Offers Guidance
• Northrim BanCorp (NRIM) Tops Q1 EPS by 54c