Investors Sell Shares of Hess Corp. (HES) on Strength (HES)
Traders sold shares of Hess Corp. (NYSE:HES) on strength during trading on Thursday. $25.63 million flowed into the stock on the tick-up and $60.92 million flowed out of the stock on the tick-down, for a money net flow of $35.29 million out of the stock. Of all equities tracked, Hess Corp. had the 0th highest net out-flow for the day. Hess Corp. traded up $0.46 for the day and closed at $56.81
Several equities analysts have weighed in on HES shares. Credit Suisse Group AG reissued a “hold” rating and issued a $66.00 target price on shares of Hess Corp. in a research note on Thursday, July 28th. 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 research note on Wednesday, May 11th. Simmons increased their target price on Hess Corp. from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Tigress Financial lowered Hess Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Finally, Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Hess Corp. in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has assigned 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 firm’s market capitalization is $17.79 billion. The stock’s 50 day moving average price is $55.55 and its 200-day moving average price is $54.34.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company posted ($0.52) earnings per share. The firm’s quarterly revenue was down 34.4% compared to the same quarter last year. Equities analysts anticipate that Hess Corp. will post ($5.03) EPS for the current year.
In related news, COO Gregory P. Hill sold 15,000 shares of the company’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 transaction of $839,850.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
An institutional investor recently raised its position in Hess Corp. stock. I.G. Investment Management LTD. boosted its position in Hess Corp. (NYSE:HES) by 76.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.