Hess Corp. downgraded to Market Perform from Outperform at Bernstein

Bernstein analyst Bob Brackett downgraded Hess Corp. (HES) to Market Perform from Outperform with a price target of $166, down from $189. The analyst cites the merger with Chevron (CVX) for the downgrade. The Hess shares price is now linked to Chevron, the analyst tells investors in a research note.