Hess Corp. (HES) Shares Down 1%
Shares of Hess Corp. (NYSE:HES) dropped 1% during trading on Monday . The stock traded as low as $55.86 and last traded at $56.08, with a volume of 1,028,945 shares traded. The stock had previously closed at $56.67.
HES has been the subject of several recent analyst reports. Bank of America Corp. restated a “buy” rating and issued a $85.00 target price on shares of Hess Corp. in a research note on Monday, August 22nd. 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. Simmons restated an “overweight” rating and issued a $60.00 target price (down previously from $64.00) on shares of Hess Corp. in a research note on Sunday, July 31st. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Hess Corp. in a research note on Wednesday, June 8th. Finally, Zacks Investment Research upgraded shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $60.77.
The company’s market cap is $17.67 billion. The stock has a 50 day moving average of $55.56 and a 200-day moving average of $54.46.
Hess Corp. (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.24) by $0.14. The company earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned ($0.52) EPS. The business’s revenue for the quarter was down 34.4% compared to the same quarter last year. Equities analysts anticipate that Hess Corp. will post ($5.03) EPS for the current fiscal year.
In related news, COO Gregory P. Hill sold 15,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $55.99, for a total value of $839,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Hess Corp. stock. I.G. Investment Management LTD. increased its stake in Hess Corp. (NYSE:HES) by 76.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting 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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