Hess Corp. (HES) Stock Price Down 3.8%
Hess Corp. (NYSE:HES) shares traded down 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 trading hands. The stock had previously closed at $60.13.
A number of research analysts have recently weighed in on the company. Credit Suisse Group AG lowered Hess Corp. from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $60.00 to $65.00 in a report on Thursday, April 28th. They noted that the move was a valuation call. Vetr raised Hess Corp. from a “hold” rating to a “buy” rating and set a $62.67 target price for the company in a research note on Friday, April 29th. Tigress Financial cut Hess Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Simmons boosted their target price on Hess Corp. from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Zacks Investment Research cut Hess Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.26.
The firm’s market capitalization is $17.19 billion. The firm’s 50 day moving average is $58.24 and its 200 day moving average is $51.57.
Hess Corp. (NYSE:HES) last released its quarterly earnings data on Wednesday, April 27th. The company reported ($1.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.83) by $0.11. The business earned $993 million during the quarter, compared to analyst estimates of $1.08 billion. The firm’s revenue for the quarter was down 35.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.98) EPS. Analysts predict that Hess Corp. will post ($5.14) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Wednesday, June 15th.
Other large investors have added to or reduced their stakes in the company. Advantus Capital Management Inc raised 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. raised 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 raised 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 raised 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. raised 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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