Hess Corp. Price Target Raised to $90.00 at Deutsche Bank (HES)
Investment analysts at Deutsche Bank raised their price objective on shares of Hess Corp. (NYSE:HES) from $80.00 to $90.00 in a note issued to investors on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective indicates a potential upside of 15.70% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Hess Corp. (NYSE:HES) in a research note to investors on Friday, August 23rd. They now have a $78.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Hess Corp. (NYSE:HES) from $85.00 to $90.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Hess Corp. (NYSE:HES) from $75.00 to $80.00 in a research note to investors on Friday, August 2nd.
Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $78.21.
Hess Corp. (NYSE:HES) traded down 0.69% on Tuesday, hitting $77.79. 2,793,062 shares of the company’s stock traded hands. Hess Corp. has a one year low of $48.20 and a one year high of $78.34. The stock’s 50-day moving average is $74.77 and its 200-day moving average is $70.64. The company has a market cap of $26.456 billion and a price-to-earnings ratio of 7.36.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.38 by $0.13. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. Analysts expect that Hess Corp. will post $6.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, September 12th. This is an increase from Hess Corp.’s previous quarterly dividend of $0.10.
In other Hess Corp. news, EVP Gregory P. Hill sold 2,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $76.79, for a total transaction of $153,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Hess Corporation (NYSE:HES) is a global integrated energy company that operates in two segments: Exploration and Production (E&P) and Marketing and Refining (M&R).
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