Hess Corp. (HES) Stock Price Down 1.5%
Hess Corp. (NYSE:HES) traded down 1.5% during trading on Friday . The stock traded as low as $53.84 and last traded at $54.10, with a volume of 1,181,246 shares. The stock had previously closed at $54.91.
Several equities research analysts have recently commented on the stock. Citigroup Inc. reiterated a “hold” rating and set a $58.00 price objective (up from $54.00) on shares of Hess Corp. in a research note on Thursday, April 7th. Zacks Investment Research downgraded shares of Hess Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr upgraded shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $62.67 target price for the company in a research report on Friday, April 29th. Simmons boosted their target price on shares of Hess Corp. to $54.00 in a research report on Friday, March 25th. Finally, Howard Weil boosted their target price on shares of 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 research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Hess Corp. presently has a consensus rating of “Hold” and a consensus price target of $62.26.
The firm’s 50 day moving average is $57.79 and its 200-day moving average is $51.83. The stock’s market capitalization is $16.23 billion.
Hess Corp. (NYSE:HES) last announced its quarterly earnings data on Wednesday, April 27th. The company reported ($1.72) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.83) by $0.11. The company 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 quarter last year, the business earned ($0.98) EPS. Equities analysts forecast that Hess Corp. will post ($5.08) earnings per share for the current year.
The business 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 1.85%. The ex-dividend date of this dividend was Wednesday, June 15th.
Several hedge funds recently made changes to their positions in HES. I.G. Investment Management LTD. boosted its stake in shares of Hess Corp. by 76.8% in the fourth quarter. I.G. Investment Management LTD. now owns 49,121 shares of the company’s stock valued at $2,381,000 after buying an additional 21,340 shares during the period. Suntrust Banks Inc. boosted 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 period. State of New Jersey Common Pension Fund D boosted its stake in shares of Hess Corp. by 31.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 210,000 shares of the company’s stock valued at $10,181,000 after buying an additional 50,000 shares during the period. Guinness Asset Management Ltd boosted its stake in shares of Hess Corp. by 1.0% in the fourth quarter. Guinness Asset Management Ltd now owns 144,802 shares of the company’s stock valued at $7,020,000 after buying an additional 1,412 shares during the period. Finally, Advantus Capital Management Inc boosted 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 period.
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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