Scotiabank has adjusted its price target for Hess Corp. (HES, Financial), lowering it from $164 to $147. Despite this change, the investment firm maintains a Sector Perform rating on the company's stock. This revision is part of a broader update by Scotiabank covering the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production sector.
The update reflects the analyst's latest assessment and adjustments in projections for the sector. While the firm remains neutral, it indicates that Hess Corp.'s performance is expected to align with the overall market trends in this sector.
Investors will likely watch closely how these developments impact Hess Corp. as well as the sector at large, as the company continues to navigate market dynamics and industry challenges.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Hess Corp (HES, Financial) is $166.97 with a high estimate of $199.00 and a low estimate of $146.00. The average target implies an upside of 31.31% from the current price of $127.16. More detailed estimate data can be found on the Hess Corp (HES) Forecast page.
Based on the consensus recommendation from 16 brokerage firms, Hess Corp's (HES, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Hess Corp (HES, Financial) in one year is $162.01, suggesting a upside of 27.41% from the current price of $127.16. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Hess Corp (HES) Summary page.
