Hess Corp. (HES) Trading Up 3.8%
Hess Corp. (NYSE:HES)’s share price was up 3.8% during mid-day trading on Thursday . The stock traded as high as $57.28 and last traded at $56.82, with a volume of 2,315,274 shares traded. The stock had previously closed at $54.72.
Several equities analysts have recently issued reports on HES shares. Scotiabank restated a “sector outperform” rating and set a $69.00 target price (up from $59.00) on shares of Hess Corp. in a research report on Tuesday, April 19th. Howard Weil boosted their target price on Hess Corp. from $59.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Tuesday, April 19th. Capital One Financial Corp. cut 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. Credit Suisse Group AG restated a “hold” rating and issued a $66.00 target price on shares of Hess Corp. in a research note on Thursday, July 28th. Finally, Simmons reiterated an “overweight” rating and set a $60.00 price objective (down previously from $64.00) on shares of Hess Corp. in a research note on Sunday, July 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $62.13.
The stock has a 50-day moving average price of $55.56 and a 200-day moving average price of $53.26. The stock’s market capitalization is $17.63 billion.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.14. The company earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Hess Corp.’s revenue for the quarter was down 34.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.52) earnings per share. On average, equities analysts anticipate that Hess Corp. will post ($4.95) earnings per share for the current fiscal year.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $55.99, for a total transaction of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several hedge funds and institutional investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its position 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 worth $10,181,000 after buying an additional 50,000 shares during the last quarter. Mutual of America Capital Management LLC increased 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 last quarter. Bridgewater Associates LP increased its stake in shares of Hess Corp. by 7.7% in the fourth quarter. Bridgewater Associates LP now owns 88,300 shares of the company’s stock valued at $4,281,000 after buying an additional 6,300 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Hess Corp. by 5.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 34,130 shares of the company’s stock valued at $1,655,000 after buying an additional 1,830 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of 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.
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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