Investors Sell Shares of Hess Corp. (HES) on Strength (HES)
Traders sold shares of Hess Corp. (NYSE:HES) on strength during trading on Thursday. $25.63 million flowed into the stock on the tick-up and $60.92 million flowed out of the stock on the tick-down, for a money net flow of $35.29 million out of the stock. Of all equities tracked, Hess Corp. had the 0th highest net out-flow for the day. Hess Corp. traded up $0.46 for the day and closed at $56.81
HES has been the subject of several research reports. Vetr upgraded Hess Corp. from a “hold” rating to a “buy” rating and set a $62.67 target price for the company in a research note on Friday, April 29th. Tigress Financial downgraded Hess Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Hess Corp. in a research note on Friday, May 20th. Simmons raised their target price on Hess Corp. from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Finally, Zacks Investment Research downgraded Hess Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $60.77.
The firm’s market capitalization is $17.75 billion. The firm’s 50-day moving average price is $55.56 and its 200-day moving average price is $54.46.
Hess Corp. (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.14. The business earned $1.27 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted ($0.52) EPS. Equities research analysts predict that Hess Corp. will post ($5.03) earnings per share for the current fiscal year.
In other news, COO Gregory P. Hill sold 15,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were 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 is accessible through this hyperlink.
A hedge fund recently raised its stake in Hess Corp. stock. I.G. Investment Management LTD. boosted its position in shares of Hess Corp. (NYSE:HES) by 76.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 49,121 shares of the company’s stock after buying an additional 21,340 shares during the period. I.G. Investment Management LTD.’s holdings in Hess Corp. were worth $2,381,000 as of its most recent SEC filing.
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.