Hess Corp. (HES) Stock Rating Reaffirmed by Nomura
Hess Corp. (NYSE:HES)‘s stock had its “hold” rating reaffirmed by stock analysts at Nomura in a research note issued on Monday. They currently have a $56.00 price target on the stock. Nomura’s price target would indicate a potential upside of 4.44% from the company’s previous close.
Several other analysts have also weighed in on HES. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Hess Corp. in a report on Wednesday, June 8th. Simmons increased their price target on Hess Corp. from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, July 12th. Zacks Investment Research lowered Hess Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Barclays PLC decreased their price target on Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $66.00 price objective on shares of Hess Corp. in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.30.
Hess Corp. (NYSE:HES) opened at 53.62 on Monday. The stock’s market cap is $16.79 billion. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $64.08. The firm’s 50-day moving average price is $52.07 and its 200 day moving average price is $55.43.
Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted ($0.52) EPS. Hess Corp.’s quarterly revenue was down 34.4% compared to the same quarter last year. On average, analysts anticipate that Hess Corp. will post ($5.08) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, September 15th. Hess Corp.’s payout ratio is currently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $55.99, for a total value of $839,850.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.83% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of HES. Wellington Management Group LLP raised its stake in shares of Hess Corp. by 40.2% in the first quarter. Wellington Management Group LLP now owns 17,658,755 shares of the company’s stock valued at $929,733,000 after buying an additional 5,067,194 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hess Corp. by 87.8% in the second quarter. Bank of New York Mellon Corp now owns 4,595,412 shares of the company’s stock valued at $276,185,000 after buying an additional 2,148,332 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Hess Corp. by 214.4% in the second quarter. Van ECK Associates Corp now owns 2,022,925 shares of the company’s stock valued at $121,578,000 after buying an additional 1,379,472 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Hess Corp. during the second quarter valued at approximately $80,777,000. Finally, State Street Corp raised its stake in shares of Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock valued at $719,757,000 after buying an additional 1,216,695 shares during the last quarter. 82.92% of the stock is currently owned by institutional investors.
Hess Corp. Company Profile
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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