Traders Buy Shares of Hess Corp. (HES) on Weakness
Traders purchased shares of Hess Corp. (NYSE:HES) on weakness during trading hours on Tuesday. $25.11 million flowed into the stock on the tick-up and $20.88 million flowed out of the stock on the tick-down, for a money net flow of $4.23 million into the stock. Of all companies tracked, Hess Corp. had the 51st highest net in-flow for the day. Hess Corp. traded down ($0.25) for the day and closed at $56.42
Several research analysts have commented on the company. Tigress Financial lowered Hess Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 3rd. Simmons reissued an “overweight” rating on shares of Hess Corp. in a report on Thursday, August 11th. Vetr lowered Hess Corp. from a “strong-buy” rating to a “buy” rating and set a $62.67 target price on the stock. in a report on Wednesday, May 11th. Zacks Investment Research lowered Hess Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Hess Corp. presently has an average rating of “Hold” and a consensus price target of $60.77.
The stock’s 50 day moving average is $55.55 and its 200 day moving average is $54.93. The company’s market cap is $17.56 billion.
Hess Corp. (NYSE:HES) last posted its earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.14. During the same quarter in the prior year, the business earned ($0.52) earnings per share. The business earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. The firm’s revenue was down 34.4% compared to the same quarter last year. 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 firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $55.99, for a total value of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
A hedge fund recently raised its stake in Hess Corp. stock. I.G. Investment Management LTD. raised its stake 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 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 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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