Hess Corp. (HES) Earns “Equal Weight” Rating from Barclays PLC
Hess Corp. (NYSE:HES)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a report released on Monday. They presently have a $64.00 price target on the stock. Barclays PLC’s price target would indicate a potential upside of 18.63% from the company’s current price.
A number of other research analysts have also recently commented on the company. Nomura restated a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a research note on Monday, October 3rd. Wolfe Research cut Hess Corp. from an “outperform” rating to a “market perform” rating in a research note 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 objective on the stock. Bank of America Corp. restated a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a research note on Monday, August 22nd. Finally, Simmons restated an “overweight” rating on shares of Hess Corp. in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.09.
Hess Corp. (NYSE:HES) traded up 1.66% on Monday, reaching $53.95. The company had a trading volume of 3,298,072 shares. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $64.08. The stock has a 50 day moving average of $51.47 and a 200 day moving average of $55.51. The firm’s market capitalization is $16.90 billion.
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Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.14. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The firm’s quarterly revenue was down 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. On average, analysts anticipate that Hess Corp. will post ($4.87) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued 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 related news, COO Gregory P. Hill sold 15,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $55.99, for a total value of $839,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.83% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. AMF Pensionsforsakring AB raised its position in shares of Hess Corp. by 96.3% in the first quarter. AMF Pensionsforsakring AB now owns 952,731 shares of the company’s stock worth $50,161,000 after buying an additional 467,488 shares during the last quarter. Aviva PLC raised its position in shares of Hess Corp. by 3.9% in the first quarter. Aviva PLC now owns 168,612 shares of the company’s stock worth $8,878,000 after buying an additional 6,301 shares during the last quarter. Investec Asset Management North America Inc. raised its position in shares of Hess Corp. by 15.3% in the first quarter. Investec Asset Management North America Inc. now owns 172,905 shares of the company’s stock worth $9,103,000 after buying an additional 22,956 shares during the last quarter. Investec Asset Management LTD raised its position in shares of Hess Corp. by 4.7% in the first quarter. Investec Asset Management LTD now owns 2,965,528 shares of the company’s stock worth $156,135,000 after buying an additional 133,773 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Hess Corp. by 15.9% in the first quarter. M&T Bank Corp now owns 23,519 shares of the company’s stock worth $1,238,000 after buying an additional 3,225 shares during the last quarter. 82.92% of the stock is owned by hedge funds and other 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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