Hess Corporation (HES) Receives $52.13 Consensus Price Target from Brokerages
Hess Corporation (NYSE:HES) has received a consensus rating of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $52.13.
A number of analysts have issued reports on HES shares. Capital One Financial Corporation downgraded shares of Hess Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $65.00 to $50.00 in a report on Wednesday, June 21st. Atlantic Securities downgraded shares of Hess Corporation from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $45.00 in a report on Tuesday, June 27th. Cowen and Company reiterated a “hold” rating and issued a $50.00 price target on shares of Hess Corporation in a report on Tuesday, August 22nd. Piper Jaffray Companies set a $47.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a report on Friday, August 25th. Finally, BidaskClub upgraded shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st.
Shares of Hess Corporation (HES) traded up 0.75% on Wednesday, reaching $46.89. 3,491,962 shares of the company traded hands. The firm’s market capitalization is $14.74 billion. Hess Corporation has a 1-year low of $37.25 and a 1-year high of $65.56. The stock has a 50-day moving average price of $40.72 and a 200 day moving average price of $44.97.
Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.10) earnings per share. Analysts anticipate that Hess Corporation will post ($4.81) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, September 15th. Hess Corporation’s dividend payout ratio (DPR) is currently -5.18%.
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In other Hess Corporation news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Gregory P. Hill sold 11,726 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,599 shares of company stock valued at $873,466. Company insiders own 11.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HES. Perpetual Ltd increased its holdings in shares of Hess Corporation by 49.2% during the second quarter. Perpetual Ltd now owns 35,800 shares of the oil and gas producer’s stock valued at $1,571,000 after purchasing an additional 11,800 shares during the period. Sentry Investment Management LLC boosted its stake in Hess Corporation by 1.1% during the second quarter. Sentry Investment Management LLC now owns 21,156 shares of the oil and gas producer’s stock valued at $928,000 after buying an additional 224 shares in the last quarter. Toronto Dominion Bank boosted its stake in Hess Corporation by 361.6% during the second quarter. Toronto Dominion Bank now owns 342,958 shares of the oil and gas producer’s stock valued at $15,043,000 after buying an additional 268,655 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in Hess Corporation by 14,558.3% during the second quarter. Archford Capital Strategies LLC now owns 18,616 shares of the oil and gas producer’s stock valued at $264,000 after buying an additional 18,489 shares in the last quarter. Finally, Linscomb & Williams Inc. boosted its stake in Hess Corporation by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 21,171 shares of the oil and gas producer’s stock valued at $929,000 after buying an additional 71 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
About Hess Corporation
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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