Hess Corp.’s Buy Rating Reaffirmed at Oppenheimer (HES)
Hess Corp. (NYSE:HES)‘s stock had its “buy” rating restated by equities researchers at Oppenheimer in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $90.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 15.70% from the stock’s previous close.
Hess Corp. (NYSE:HES) traded down 0.69% during mid-day trading on Tuesday, hitting $77.79. The stock had a trading volume of 2,793,062 shares. Hess Corp. has a 52 week low of $48.20 and a 52 week 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 P/E ratio of 7.36.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data 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. On average, analysts predict that Hess Corp. will post $6.48 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HES. Analysts at Deutsche Bank raised their price target on shares of Hess Corp. (NYSE:HES) from $80.00 to $90.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, 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. 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $78.21.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders 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 a positive change from Hess Corp.’s previous quarterly dividend of $0.10.
In other Hess Corp. news, EVP Gregory P. Hill sold 2,000 shares of Hess Corp. stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $76.79, for a total value of $153,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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