Traders Buy Hess Corp. (HES) on Weakness
Traders purchased shares of Hess Corp. (NYSE:HES) on weakness during trading hours on Monday. $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 companies tracked, Hess Corp. had the 6th highest net in-flow for the day. Hess Corp. traded down ($0.23) for the day and closed at $53.08
Several research firms have weighed in on HES. Zacks Investment Research upgraded Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, July 29th. Bank of America Corp. reiterated a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a research report on Monday, August 22nd. Simmons reiterated an “overweight” rating on shares of Hess Corp. in a research report on Thursday, August 11th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Hess Corp. in a research report on Wednesday, June 8th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $66.00 price objective on shares of Hess Corp. in a research report on Thursday, July 28th. 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.77.
The company’s 50 day moving average price is $55.12 and its 200 day moving average price is $54.90. The stock’s market cap is $16.62 billion.
Hess Corp. (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company earned ($0.52) EPS. The firm’s quarterly revenue was down 34.4% on a year-over-year basis. On average, equities research 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 business’s stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink.
A hedge fund recently raised its stake in Hess Corp. stock. I.G. Investment Management LTD. increased 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 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 as of its most recent filing with the SEC.
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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