Hess Corp. (NYSE:HES)‘s stock had its “equal weight” rating restated by Barclays PLC in a research report issued to clients and investors on Monday. They currently have a $64.00 target price on the stock. Barclays PLC’s price target points to a potential upside of 18.63% from the company’s previous close.
HES has been the topic of several other reports. Bank of America Corp. reissued a “buy” rating and issued a $85.00 target price on shares of Hess Corp. in a research report on Monday, August 22nd. KLR Group started coverage on Hess Corp. in a research report on Monday, September 12th. They issued an “accumulate” rating and a $65.00 target price on the stock. Wolfe Research downgraded Hess Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, September 12th. Nomura reissued a “hold” rating and issued a $56.00 target price on shares of Hess Corp. in a research report on Monday, October 3rd. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $66.00 target price on shares of Hess Corp. in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Hess Corp. presently has a consensus rating of “Hold” and a consensus target price of $61.09.
Shares of Hess Corp. (NYSE:HES) traded up 1.66% during trading on Monday, hitting $53.95. The stock had a trading volume of 3,298,072 shares. The firm’s market cap is $16.90 billion. The firm has a 50 day moving average price of $51.47 and a 200 day moving average price of $55.51. Hess Corp. has a 12-month low of $32.41 and a 12-month high of $64.08.
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. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned ($0.52) EPS. The firm’s revenue was down 34.4% on a year-over-year basis. On average, equities analysts expect that Hess Corp. will post ($4.87) earnings per share for the current fiscal 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 15th. Hess Corp.’s dividend payout ratio (DPR) 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 value of $839,850.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.83% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC increased 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 worth $616,000 after buying an additional 48 shares in the last quarter. River Wealth Advisors LLC increased 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 worth $431,000 after buying an additional 53 shares in the last quarter. Ropes Wealth Advisors LLC increased 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 worth $207,000 after buying an additional 55 shares in the last quarter. Conning Inc. increased 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 worth $472,000 after buying an additional 150 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased 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 worth $388,000 after buying an additional 172 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors and hedge funds.
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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