Investors Buy Shares of Hess Corp. (HES) on Weakness
Traders bought shares of Hess Corp. (NYSE:HES) on weakness during trading hours on Monday. $64.22 million flowed into the stock on the tick-up and $33.47 million flowed out of the stock on the tick-down, for a money net flow of $30.75 million into the stock. Of all companies tracked, Hess Corp. had the 18th highest net in-flow for the day. Hess Corp. traded down ($1.31) for the day and closed at $52.81
Several analysts have commented on the company. Scotiabank reaffirmed a “sector outperform” rating and set a $69.00 price objective (up from $59.00) on shares of Hess Corp. in a research note on Tuesday, April 19th. Vetr raised Hess Corp. from a “buy” rating to a “strong-buy” rating and set a $62.67 price objective for the company in a research note on Thursday, May 5th. Tigress Financial downgraded Hess Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Capital One Financial Corp. downgraded Hess Corp. from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 27th. They noted that the move was a valuation call. Finally, Citigroup Inc. reaffirmed 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.26.
The firm’s market cap is $15.83 billion. The firm has a 50-day moving average price of $57.48 and a 200 day moving average price of $52.01.
Hess Corp. (NYSE:HES) last released its earnings results on Wednesday, April 27th. The company reported ($1.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.83) by $0.11. During the same period last year, the business posted ($0.98) EPS. The business earned $993 million during the quarter, compared to the consensus estimate of $1.08 billion. The firm’s revenue for the quarter was down 35.9% on a year-over-year basis. On average, equities research analysts expect that Hess Corp. will post ($5.08) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, June 15th.
Other hedge funds have recently made changes to their positions in the company. 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 worth $1,112,000 after buying an additional 315 shares in the last quarter. Pinnacle Associates Ltd. boosted 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 worth $1,172,000 after buying an additional 1,103 shares in the last quarter. GSA Capital Partners LLP boosted 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 worth $1,332,000 after buying an additional 9,474 shares in the last quarter. 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 worth $1,378,000 after buying an additional 9,935 shares in the last quarter. 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 worth $1,499,000 after buying an additional 659 shares in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.