Hess Corp. (HES) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Hess Corp. (NYSE:HES) have earned an average rating of “Hold” from the twenty-three ratings firms that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.91.
Several research firms have weighed in on HES. Wolfe Research cut Hess Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, September 12th. Bank of America Corp. reiterated a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a research report on Monday, August 22nd. Simmons reissued an “overweight” rating and set a $60.00 target price (down from $64.00) on shares of Hess Corp. in a report on Sunday, July 31st. Nomura reissued a “hold” rating and set a $56.00 target price on shares of Hess Corp. in a report on Monday, October 3rd. Finally, Zacks Investment Research lowered Hess Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.
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Hess Corp. (NYSE:HES) traded down 0.25% on Monday, hitting $52.60. The company had a trading volume of 1,437,091 shares. The firm’s market capitalization is $16.47 billion. The firm has a 50-day moving average price of $50.53 and a 200-day moving average price of $54.07. Hess Corp. has a 12-month low of $32.41 and a 12-month high of $63.76.
Hess Corp. (NYSE:HES) last posted its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.24) by $0.12. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The company’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter last year, the business earned ($1.03) EPS. On average, equities research analysts anticipate that Hess Corp. will post ($5.07) earnings per share for the current fiscal year.
In other Hess Corp. news, insider Brian D. Truelove sold 5,000 shares of Hess Corp. stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $47.41, for a total value of $237,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory P. Hill sold 2,951 shares of Hess Corp. stock in a transaction that occurred 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. 11.83% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of HES. Envestnet Asset Management Inc. increased its stake in Hess Corp. by 50.0% in the first quarter. Envestnet Asset Management Inc. now owns 35,777 shares of the company’s stock valued at $1,884,000 after buying an additional 11,923 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Hess Corp. during the first quarter valued at approximately $842,000. A.R.T. Advisors LLC purchased a new stake in Hess Corp. during the first quarter valued at approximately $1,310,000. Babson Capital Management LLC increased its stake in Hess Corp. by 53.6% in the first quarter. Babson Capital Management LLC now owns 30,679 shares of the company’s stock valued at $1,615,000 after buying an additional 10,700 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Hess Corp. by 9.0% in the first quarter. Arizona State Retirement System now owns 71,762 shares of the company’s stock valued at $3,778,000 after buying an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.
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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