Traders Sell Hess (HES) on Strength (HES)

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Traders sold shares of Hess Corp. (NYSE:HES) on strength during trading hours on Thursday. $53.24 million flowed into the stock on the tick-up and $159.92 million flowed out of the stock on the tick-down, for a money net flow of $106.68 million out of the stock. Of all stocks tracked, Hess had the 31st highest net out-flow for the day. Hess traded up $0.07 for the day and closed at $54.00

Several analysts recently commented on HES shares. Morgan Stanley reiterated a “buy” rating and issued a $92.00 target price (up from $87.00) on shares of Hess in a report on Friday, October 12th. Barclays raised Hess from an “equal weight” rating to an “overweight” rating and set a $66.00 price target on the stock in a research note on Thursday, January 10th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and issued a $85.00 price target on shares of Hess in a research note on Tuesday, November 27th. MKM Partners boosted their price target on Hess to $79.00 and gave the company a “buy” rating in a research note on Thursday, December 13th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $61.00 price target on shares of Hess in a research note on Monday, December 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $67.27.

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. The company has a market cap of $15.98 billion, a PE ratio of -11.71 and a beta of 1.70.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.10. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned ($1.01) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Hess Corp. will post -0.46 EPS for the current fiscal year.

In other news, insider Michael R. Turner sold 4,142 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total transaction of $235,348.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.09% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. NuWave Investment Management LLC raised its position in shares of Hess by 266.5% during the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 605 shares during the period. Palo Capital Inc. acquired a new position in shares of Hess during the third quarter worth approximately $116,000. Permanens Capital L.P. acquired a new position in shares of Hess during the third quarter worth approximately $136,000. Point72 Hong Kong Ltd acquired a new position in shares of Hess during the third quarter worth approximately $131,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Hess during the third quarter worth approximately $153,000. 87.56% of the stock is currently owned by institutional investors.

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Hess Company Profile (NYSE:HES)

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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