Hess (NYSE:HES) Sets New 12-Month High at $71.78
Hess Corp. (NYSE:HES)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $71.78 and last traded at $71.53, with a volume of 455134 shares changing hands. The stock had previously closed at $70.73.
Several research firms have weighed in on HES. Barclays began coverage on Hess in a research note on Monday, August 19th. They set an “overweight” rating and a $93.00 price target on the stock. Bank of America reiterated a “buy” rating and set a $80.00 price target (up previously from $75.00) on shares of Hess in a research note on Monday, October 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Hess in a research note on Wednesday, July 31st. Cfra downgraded Hess from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, MKM Partners set a $80.00 price target on Hess and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.75.
The company has a quick ratio of 1.46, a current ratio of 1.45 and a debt-to-equity ratio of 0.70. The stock has a market cap of $21.22 billion, a PE ratio of -96.99 and a beta of 2.01. The business has a 50 day moving average price of $65.21 and a 200 day moving average price of $62.58.
In other Hess news, insider Michael R. Turner sold 11,258 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.71, for a total transaction of $694,731.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael R. Turner sold 32,746 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $69.00, for a total value of $2,259,474.00. Following the transaction, the senior vice president now owns 54,904 shares in the company, valued at approximately $3,788,376. The disclosure for this sale can be found here. Insiders have sold 235,606 shares of company stock worth $15,594,809 in the last quarter. 12.22% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of HES. WINTON GROUP Ltd purchased a new stake in shares of Hess during the 2nd quarter worth approximately $10,109,000. Carroll Financial Associates Inc. raised its holdings in Hess by 826.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,723 shares of the oil and gas producer’s stock worth $109,000 after purchasing an additional 1,537 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Hess by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 118,869 shares of the oil and gas producer’s stock worth $7,557,000 after purchasing an additional 340 shares during the last quarter. Packer & Co Ltd increased its stake in shares of Hess by 23.7% in the 2nd quarter. Packer & Co Ltd now owns 2,094,952 shares of the oil and gas producer’s stock valued at $133,176,000 after acquiring an additional 400,736 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Hess by 8,810.0% in the 2nd quarter. CENTRAL TRUST Co now owns 8,910 shares of the oil and gas producer’s stock valued at $557,000 after acquiring an additional 8,810 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.
Hess Company Profile (NYSE:HES)
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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