A number of other analysts have also commented on the company. Wolfe Research lowered Hess Corp. from an outperform rating to a market perform rating in a research report on Monday, September 12th. KLR Group began coverage on Hess Corp. in a research note on Monday, September 12th. They set an accumulate rating and a $65.00 price target for the company. Bank of America Corp. reiterated a buy rating and set a $85.00 price target on shares of Hess Corp. in a research note on Monday, August 22nd. Simmons reiterated an overweight rating on shares of Hess Corp. in a research note on Thursday, August 11th. Finally, Zacks Investment Research downgraded Hess Corp. from a buy rating to a hold rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Hess Corp. has an average rating of Hold and a consensus price target of $61.30.
Hess Corp. (NYSE:HES) traded down 1.13% during mid-day trading on Monday, reaching $53.29. The company’s stock had a trading volume of 390,797 shares. The firm has a 50 day moving average price of $52.00 and a 200 day moving average price of $55.50. The company’s market cap is $16.69 billion. Hess Corp. has a 52-week low of $32.41 and a 52-week high of $64.08.
Hess Corp. (NYSE:HES) last issued its 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. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The business earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted ($0.52) EPS. The firm’s revenue was down 34.4% compared to the same quarter last year. Equities research analysts anticipate that Hess Corp. will post ($5.08) earnings per share for the current year.
The firm also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Thursday, September 15th. Hess Corp.’s dividend payout ratio is -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.83% of the company’s stock.
Several large investors have recently made changes to their positions in HES. Bollard Group LLC boosted its stake in shares of Hess Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 10,250 shares of the company’s stock valued at $616,000 after buying an additional 48 shares in the last quarter. River Wealth Advisors LLC boosted its stake in shares of Hess Corp. by 0.7% in the second quarter. River Wealth Advisors LLC now owns 7,179 shares of the company’s stock valued at $431,000 after buying an additional 53 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock valued at $207,000 after buying an additional 55 shares in the last quarter. Conning Inc. boosted its stake in shares of Hess Corp. by 1.9% in the second quarter. Conning Inc. now owns 7,857 shares of the company’s stock valued at $472,000 after buying an additional 150 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Hess Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,167 shares of the company’s stock valued at $388,000 after buying an additional 172 shares in the last quarter. 82.92% of the stock is owned by institutional investors.
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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