Hess Corp. (HES) Stock Price Down 5.8%
Hess Corp. (NYSE:HES)’s share price was down 5.8% during mid-day trading on Tuesday . The company traded as low as $56.56 and last traded at $56.64, with a volume of 2,189,734 shares changing hands. The stock had previously closed at $60.15.
A number of equities analysts have issued reports on HES shares. Zacks Investment Research raised Hess Corp. from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, April 5th. Barclays PLC upped their price target on Hess Corp. from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, April 8th. Atlantic Securities raised Hess Corp. from a “neutral” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Tuesday, March 22nd. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Hess Corp. in a research report on Wednesday, June 8th. Finally, Howard Weil upped their price target on Hess Corp. from $59.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Hess Corp. currently has a consensus rating of “Hold” and a consensus price target of $61.80.
The firm’s 50-day moving average is $58.38 and its 200 day moving average is $51.24. The stock’s market capitalization is $17.23 billion.
Hess Corp. (NYSE:HES) last announced its quarterly earnings data on Wednesday, April 27th. The company reported ($1.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.83) by $0.11. The firm had revenue of $993 million for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted ($0.98) EPS. Hess Corp.’s revenue for the quarter was down 35.9% compared to the same quarter last year. Equities analysts forecast that Hess Corp. will post ($5.30) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, June 15th.
Several hedge funds have recently made changes to their positions in the company. Advantus Capital Management Inc raised its stake in shares of Hess Corp. by 1.4% in the fourth quarter. Advantus Capital Management Inc now owns 22,930 shares of the company’s stock valued at $1,112,000 after buying an additional 315 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Hess Corp. by 4.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 24,184 shares of the company’s stock valued at $1,172,000 after buying an additional 1,103 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Hess Corp. by 89.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,442 shares of the company’s stock valued at $1,330,000 after buying an additional 12,963 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Hess Corp. by 52.6% in the fourth quarter. GSA Capital Partners LLP now owns 27,480 shares of the company’s stock valued at $1,332,000 after buying an additional 9,474 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Hess Corp. by 53.7% in the fourth quarter. Suntrust Banks Inc. now owns 28,449 shares of the company’s stock valued at $1,378,000 after buying an additional 9,935 shares during the last quarter.
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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