Investors Buy Shares of Hess Corp. (HES) on Weakness
Traders purchased shares of Hess Corp. (NYSE:HES) on weakness during trading hours on Friday. $52.78 million flowed into the stock on the tick-up and $31.81 million flowed out of the stock on the tick-down, for a money net flow of $20.97 million into the stock. Of all stocks tracked, Hess Corp. had the 28th highest net in-flow for the day. Hess Corp. traded down ($0.23) for the day and closed at $53.08
A number of research analysts recently commented on HES shares. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $66.00 price target on shares of Hess Corp. in a report on Thursday, July 28th. Vetr downgraded shares of Hess Corp. from a “strong-buy” rating to a “buy” rating and set a $62.67 price target for the company. in a report on Wednesday, May 11th. Simmons increased their price target on shares of Hess Corp. from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, July 12th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Hess Corp. in a report on Wednesday, June 8th. Finally, Zacks Investment Research raised shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Hess Corp. currently has an average rating of “Hold” and a consensus price target of $60.77.
The firm’s 50 day moving average is $55.12 and its 200 day moving average is $54.90. The stock’s market capitalization is $16.62 billion.
Hess Corp. (NYSE:HES) last posted its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.24) by $0.14. The firm earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. The business’s revenue for the quarter was down 34.4% compared to the same quarter last year. Analysts anticipate that Hess Corp. will post ($5.03) EPS for the current year.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the business’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 document filed with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Hess Corp. stock. I.G. Investment Management LTD. boosted its stake in shares of Hess Corp. (NYSE:HES) by 76.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 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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