Credit Suisse Downgrades Hess Corp. (HES) to Neutral

Credit Suisse downgraded Hess Corp. (NYSE: HES) from Outperform to Neutral with a price target of $65.00 (from $60.00).

Analyst E. Westlake commented, "HES has the ingredients to navigate a down-cycle well - a strong balance sheet, an inventory of existing low breakeven reinvestment opportunities and opportunity to grow the resource base in Guyana. We are raising our Target Price to $65/sh to reflect progress in the Bakken."

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 $61.27 yesterday.

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