Hess Corp. (HES) Receives “Equal Weight” Rating from Barclays PLC
HES has been the topic of several other research reports. Bank of America Corp. reaffirmed a buy rating and issued a $85.00 target price on shares of Hess Corp. in a report on Monday, August 22nd. Zacks Investment Research downgraded shares of Hess Corp. from a buy rating to a hold rating in a report on Wednesday, July 20th. Simmons lifted their target price 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. Nomura reaffirmed a hold rating and issued a $56.00 target price on shares of Hess Corp. in a report on Monday, October 3rd. Finally, Credit Suisse Group AG reaffirmed a hold rating and issued a $66.00 target price on shares of Hess Corp. in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $61.09.
Hess Corp. (NYSE:HES) traded down 1.251% during mid-day trading on Monday, reaching $53.275. 496,812 shares of the company’s stock were exchanged. The stock’s market capitalization is $16.69 billion. The firm’s 50-day moving average is $51.47 and its 200 day moving average is $55.51. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative net margin of 56.22% and a negative return on equity of 7.16%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted ($0.52) EPS. Hess Corp.’s revenue for the quarter was down 34.4% on a year-over-year basis. Analysts forecast that Hess Corp. will post ($4.87) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.00 annualized dividend and a yield of 1.85%. Hess Corp.’s dividend payout ratio is currently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the business’s 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.83% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Elliott Management Corp increased its stake in Hess Corp. by 5.6% in the first quarter. Elliott Management Corp now owns 18,800,000 shares of the company’s stock valued at $989,820,000 after buying an additional 1,000,000 shares in the last quarter. Wellington Management Group LLP increased its stake in Hess Corp. by 40.2% in the first quarter. Wellington Management Group LLP now owns 17,658,755 shares of the company’s stock valued at $929,733,000 after buying an additional 5,067,194 shares in the last quarter. Vanguard Group Inc. increased its stake in Hess Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 17,291,164 shares of the company’s stock valued at $1,039,199,000 after buying an additional 370,373 shares in the last quarter. State Street Corp increased its stake in Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock valued at $719,757,000 after buying an additional 1,216,695 shares in the last quarter. Finally, FMR LLC increased its stake in Hess Corp. by 6.5% in the second quarter. FMR LLC now owns 8,333,032 shares of the company’s stock valued at $500,815,000 after buying an additional 505,553 shares in the last quarter. Institutional investors own 82.92% of the company’s stock.
About Hess Corp.
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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