Hess Corp. (NYSE:HES) dropped 3.8% on Wednesday . The company traded as low as $57.46 and last traded at $57.84, with a volume of 2,474,923 shares traded. The stock had previously closed at $60.13.

HES has been the subject of a number of research reports. Zacks Investment Research raised Hess Corp. from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, April 5th. Vetr downgraded Hess Corp. from a “strong-buy” rating to a “buy” rating and set a $60.67 target price for the company. in a report on Monday, April 11th. Scotiabank reissued a “sector outperform” rating and set a $69.00 target price (up previously from $59.00) on shares of Hess Corp. in a report on Tuesday, April 19th. Atlantic Securities raised Hess Corp. from a “neutral” rating to an “overweight” rating and set a $63.00 target price for the company in a report on Tuesday, March 22nd. Finally, Simmons lifted their target price on Hess Corp. to $54.00 in a report on Friday, March 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Hess Corp. presently has a consensus rating of “Hold” and an average price target of $62.26.

The company has a 50-day moving average price of $58.33 and a 200-day moving average price of $51.48. The company’s market cap is $17.39 billion.

Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, April 27th. The company reported ($1.72) earnings per share for the quarter, beating the consensus estimate of ($1.83) by $0.11. The business earned $993 million during the quarter, compared to analysts’ expectations of $1.08 billion. The business’s revenue was down 35.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.98) EPS. On average, equities research analysts predict that Hess Corp. will post ($5.16) EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.72%.

Several hedge funds have added to or reduced their stakes in HES. Advantus Capital Management Inc boosted its stake in 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. boosted its stake in 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 boosted its stake in 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 boosted its stake in 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. boosted its stake in 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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