Hess Corp. (HES) Shares Down 1.5%
Hess Corp. (NYSE:HES)’s share price fell 1.5% on Friday . The company traded as low as $53.84 and last traded at $54.10, with a volume of 1,181,246 shares traded. The stock had previously closed at $54.91.
A number of research firms have weighed in on HES. Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. Simmons upped their target price on shares of Hess Corp. from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Hess Corp. in a research report on Wednesday, June 8th. Vetr lowered shares of Hess Corp. from a “strong-buy” rating to a “buy” rating and set a $62.67 target price for the company. in a research report on Wednesday, May 11th. Finally, Tigress Financial lowered shares of Hess Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Hess Corp. currently has a consensus rating of “Hold” and an average price target of $62.26.
The company has a 50-day moving average of $57.64 and a 200-day moving average of $51.87. The company’s market cap is $16.23 billion.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, April 27th. The company reported ($1.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.83) by $0.11. During the same period last year, the firm earned ($0.98) EPS. The business had revenue of $993 million for the quarter, compared to analyst estimates of $1.08 billion. The company’s revenue for the quarter was down 35.9% compared to the same quarter last year. On average, analysts forecast that Hess Corp. will post ($5.08) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $1.00 annualized dividend and a yield of 1.85%.
Other large investors have made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Hess Corp. by 62.7% in the fourth quarter. Bank of Montreal Can now owns 75,831 shares of the company’s stock valued at $3,676,000 after buying an additional 29,213 shares during the period. Standard Life Investments LTD boosted its stake in shares of Hess Corp. by 24.1% in the fourth quarter. Standard Life Investments LTD now owns 2,636,878 shares of the company’s stock valued at $127,849,000 after buying an additional 512,362 shares during the period. Amica Mutual Insurance Co. acquired a new stake in shares of Hess Corp. during the fourth quarter valued at about $1,593,000. Mutual of America Capital Management LLC boosted its stake in shares of Hess Corp. by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 44,009 shares of the company’s stock valued at $2,134,000 after buying an additional 454 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Hess Corp. by 2.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,916 shares of the company’s stock valued at $1,499,000 after buying an additional 659 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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