Brokerages Set Hess Corp. (HES) PT at $60.91
Hess Corp. (NYSE:HES) has been assigned a consensus recommendation of “Hold” from the twenty-three ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.91.
Several equities research analysts have weighed in on the company. Simmons reissued an “overweight” rating on shares of Hess Corp. in a research note on Thursday, August 11th. Zacks Investment Research cut Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC reissued an “equal weight” rating and set a $64.00 price objective on shares of Hess Corp. in a research note on Monday, October 10th. Nomura reissued a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a research note on Monday, October 3rd. Finally, Wolfe Research cut Hess Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, September 12th.
In other news, insider Brian D. Truelove sold 5,000 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.41, for a total transaction of $237,050.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Gregory P. Hill sold 2,951 shares of the company’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $51.78, for a total value of $152,802.78. The disclosure for this sale can be found here. Insiders own 11.83% of the company’s stock.
Institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC increased its position in shares of Hess Corp. by 27.3% in the third quarter. SevenBridge Financial Group LLC now owns 2,039 shares of the company’s stock worth $105,000 after buying an additional 437 shares during the last quarter. CKW Financial Group acquired a new position in shares of Hess Corp. during the third quarter worth about $118,000. Exane Derivatives increased its position in shares of Hess Corp. by 23.5% in the second quarter. Exane Derivatives now owns 2,333 shares of the company’s stock worth $140,000 after buying an additional 444 shares during the last quarter. MSI Financial Services Inc increased its position in shares of Hess Corp. by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock worth $144,000 after buying an additional 1,410 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of Hess Corp. during the second quarter worth about $155,000. 82.92% of the stock is currently owned by institutional investors and hedge funds.
Hess Corp. (NYSE:HES) opened at 55.96 on Monday. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $63.76. The company’s market cap is $17.53 billion. The stock has a 50 day moving average price of $50.43 and a 200 day moving average price of $53.92.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted ($1.03) earnings per share. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. Analysts anticipate that Hess Corp. will post ($5.07) earnings per share for the current fiscal year.
About Hess Corp.
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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