Hess Corp. (HES) Shares Gap Up to $54.64
Shares of Hess Corp. (NYSE:HES) gapped up before the market opened on Monday . The stock had previously closed at $54.12, but opened at $54.64. Hess Corp. shares last traded at $56.06, with a volume of 1,641,449 shares changing hands.
A number of research firms have commented on HES. Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. Simmons reaffirmed an “overweight” rating and set a $60.00 price objective (down from $64.00) on shares of Hess Corp. in a research note on Sunday, July 31st. Credit Suisse Group AG reaffirmed a “hold” rating and set a $66.00 price objective on shares of Hess Corp. in a research note on Thursday, July 28th. Barclays PLC dropped their target price on Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Finally, Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Hess Corp. in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.13.
The stock’s market capitalization is $17.51 billion. The company has a 50-day moving average of $55.90 and a 200 day moving average of $52.94.
Hess Corp. (NYSE:HES) last released its earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. The firm earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue was down 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) EPS. Equities analysts predict that Hess Corp. will post ($4.98) EPS for the current year.
A number of large investors have recently added to or reduced their stakes in HES. State of New Jersey Common Pension Fund D boosted its stake in 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 last quarter. Bank of Montreal Can boosted its stake in 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 last quarter. I.G. Investment Management LTD. boosted its stake in 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 last quarter. BlackRock Advisors LLC boosted its stake in Hess Corp. by 1.8% in the fourth quarter. BlackRock Advisors LLC now owns 1,029,927 shares of the company’s stock valued at $49,930,000 after buying an additional 18,327 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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