Hess Corp. (HES) Trading 3.8% Higher
Hess Corp. (NYSE:HES) traded up 3.8% on Thursday . The stock traded as high as $57.28 and last traded at $56.82, with a volume of 2,315,274 shares traded. The stock had previously closed at $54.72.
Several equities research analysts have recently weighed in on the stock. Barclays PLC lowered their target price on shares of Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Vetr raised shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $62.67 target price on the stock in a report on Friday, April 29th. Simmons reiterated an “overweight” rating and set a $60.00 price target (down previously from $64.00) on shares of Hess Corp. in a research report on Sunday, July 31st. Finally, Howard Weil upped their price target on shares of Hess Corp. from $59.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.13.
The firm has a 50-day moving average of $55.70 and a 200 day moving average of $53.08. The firm’s market capitalization is $17.71 billion.
Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted ($0.52) earnings per share. The business’s revenue for the quarter was down 34.4% on a year-over-year basis. Equities analysts predict that Hess Corp. will post ($4.95) earnings per share for the current fiscal year.
In other news, COO Gregory P. Hill sold 15,000 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website.
Other hedge funds have recently added to or reduced their stakes in the company. Advantus Capital Management Inc boosted its stake in Hess Corp. by 1.4% in the fourth quarter. Advantus Capital Management Inc now owns 22,930 shares of the company’s stock valued at $1,112,000 after buying an additional 315 shares during the period. GSA Capital Partners LLP raised its position in Hess Corp. by 52.6% in the fourth quarter. GSA Capital Partners LLP now owns 27,480 shares of the company’s stock worth $1,332,000 after buying an additional 9,474 shares in the last quarter. Suntrust Banks Inc. raised its position in Hess Corp. by 53.7% in the fourth quarter. Suntrust Banks Inc. now owns 28,449 shares of the company’s stock worth $1,378,000 after buying an additional 9,935 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Hess Corp. by 5.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 34,130 shares of the company’s stock worth $1,655,000 after buying an additional 1,830 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Hess Corp. by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 44,009 shares of the company’s stock worth $2,134,000 after buying an additional 454 shares in the last 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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