Hess Corp. (HES) Given “Equal Weight” Rating at Barclays PLC
Hess Corp. (NYSE:HES)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Barclays PLC in a note issued to investors on Monday. They currently have a $64.00 price target on the stock. Barclays PLC’s price objective would suggest a potential upside of 18.63% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. KLR Group initiated coverage on Hess Corp. in a report on Monday, September 12th. They set an “accumulate” rating and a $65.00 price objective on the stock. Bank of America Corp. reissued a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a report on Monday, August 22nd. Zacks Investment Research raised Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, July 29th. Credit Suisse Group AG reissued a “hold” rating and set a $66.00 price objective on shares of Hess Corp. in a report on Thursday, July 28th. Finally, Nomura reissued a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.09.
Shares of Hess Corp. (NYSE:HES) traded up 1.66% during mid-day trading on Monday, hitting $53.95. The stock had a trading volume of 3,298,072 shares. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $64.08. The firm has a 50 day moving average price of $51.47 and a 200-day moving average price of $55.51. The stock’s market cap is $16.90 billion.
Hess Corp. (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm earned ($0.52) EPS. The business’s revenue for the quarter was down 34.4% compared to the same quarter last year. On average, equities research analysts forecast that Hess Corp. will post ($4.87) EPS 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 1.85%. The ex-dividend date of this dividend was Thursday, September 15th. Hess Corp.’s dividend payout ratio (DPR) is currently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.83% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AMF Pensionsforsakring AB boosted its position in Hess Corp. by 96.3% in the first quarter. AMF Pensionsforsakring AB now owns 952,731 shares of the company’s stock worth $50,161,000 after buying an additional 467,488 shares during the last quarter. Aviva PLC boosted its position in Hess Corp. by 3.9% in the first quarter. Aviva PLC now owns 168,612 shares of the company’s stock worth $8,878,000 after buying an additional 6,301 shares during the last quarter. Investec Asset Management North America Inc. boosted its position in Hess Corp. by 15.3% in the first quarter. Investec Asset Management North America Inc. now owns 172,905 shares of the company’s stock worth $9,103,000 after buying an additional 22,956 shares during the last quarter. Investec Asset Management LTD boosted its position in Hess Corp. by 4.7% in the first quarter. Investec Asset Management LTD now owns 2,965,528 shares of the company’s stock worth $156,135,000 after buying an additional 133,773 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Hess Corp. by 15.9% in the first quarter. M&T Bank Corp now owns 23,519 shares of the company’s stock worth $1,238,000 after buying an additional 3,225 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.
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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