Traders Buy Shares of Hess Corp. (HES) on Weakness
Traders bought shares of Hess Corp. (NYSE:HES) on weakness during trading on Monday. $25.11 million flowed into the stock on the tick-up and $20.88 million flowed out of the stock on the tick-down, for a money net flow of $4.23 million into the stock. Of all stocks tracked, Hess Corp. had the 27th highest net in-flow for the day. Hess Corp. traded down ($0.25) for the day and closed at $56.42
HES has been the subject of a number of research reports. Zacks Investment Research upgraded Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, July 29th. Vetr downgraded Hess Corp. from a “strong-buy” rating to a “buy” rating and set a $62.67 price objective for the company. in a report on Wednesday, May 11th. Bank of America Corp. reiterated a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a report on Monday, August 22nd. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Hess Corp. in a report on Wednesday, June 8th. Finally, Barclays PLC decreased their price objective on Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $60.77.
The firm’s market cap is $17.67 billion. The stock’s 50-day moving average is $55.55 and its 200 day moving average is $54.81.
Hess Corp. (NYSE:HES) last released its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.24) by $0.14. During the same period in the prior year, the company earned ($0.52) earnings per share. The business earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. The business’s revenue was down 34.4% on a year-over-year basis. Equities research analysts expect that Hess Corp. will post ($5.03) earnings per share for the current year.
In other 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 value of $839,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Hess Corp. stock. American International Group Inc. increased its stake in Hess Corp. (NYSE:HES) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,106 shares of the company’s stock after buying an additional 1,570 shares during the period. American International Group Inc.’s holdings in Hess Corp. were worth $4,417,000 as of its most recent SEC filing.
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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