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4-Traders Homepage  >  Equities  >  Nyse  >  Hess Corp.    HES

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Hess : Wood Group Signs Long-Term Global Agreement with Hess

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05/28/2017 | 03:29pm CEST

Hess Corporation has signed a non-exclusive 10-year global agreement with Wood Group to provide engineering, project management, construction, commissioning, operations & maintenance, integrity management, subsea, and decommissioning services.

The two companies have worked together for more than 25 years on a wide range of projects worldwide. Hess and Wood Group are committed to a transparent, cooperative partnership based on continuous improvement. Using proven methodologies, the two teams aim to remove waste and improve performance leading to safe and reliable operations.

Robin Watson, Wood Group chief executive, said, "This agreement further solidifies the strong relationship we have with Hess. The ability to consolidate the full breadth of our services under one agreement offers an exceptional level of continuity to Hess and all our clients. "We look forward to many more years of working together with Hess as we unlock our combined potential to create more efficiencies through innovation. We share the same operational excellence mindset and fully expect to achieve meaningful progress in safety, performance and cost savings."

(c) 2017 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 5 481 M
EBIT 2017 -951 M
Net income 2017 -1 095 M
Debt 2017 4 876 M
Yield 2017 2,13%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 3,68x
EV / Sales 2018 3,19x
Capitalization 15 304 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 62,6 $
Spread / Average Target 30%
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Managers
NameTitle
John B. Hess Chief Executive Officer & Director
Gregory P. Hill President & Chief Operating Officer
James H. Quigley Chairman
John P. Rielly Chief Financial Officer & Senior Vice President
Edith E. Holiday Independent Director
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