Hess Corporation (HES) Receives Average Recommendation of “Buy” from Analysts
Shares of Hess Corporation (NYSE:HES) have been given a consensus rating of “Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $57.58.
HES has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) lowered Hess Corporation from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, March 1st. Evercore ISI lowered Hess Corporation to a “buy” rating in a report on Friday, March 3rd. Scotiabank reiterated a “buy” rating and issued a $65.00 price target on shares of Hess Corporation in a report on Tuesday, March 14th. Wolfe Research upgraded Hess Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, April 10th. Finally, Barclays PLC reiterated a “hold” rating and issued a $61.00 price target (down previously from $64.00) on shares of Hess Corporation in a report on Friday, April 14th.
Shares of Hess Corporation (HES) traded down 1.74% during mid-day trading on Monday, reaching $42.86. The company had a trading volume of 1,636,949 shares. The firm’s 50-day moving average price is $47.20 and its 200 day moving average price is $52.32. Hess Corporation has a 52-week low of $42.67 and a 52-week high of $65.56. The company’s market cap is $13.45 billion. Hess Corporation also was the target of unusually large options trading on Friday. Stock traders bought 23,569 put options on the stock. This is an increase of approximately 569% compared to the average daily volume of 3,521 put options.
Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.03. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.34 billion. Hess Corporation had a negative return on equity of 7.15% and a negative net margin of 116.02%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.72) earnings per share. Equities analysts expect that Hess Corporation will post ($3.62) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. Hess Corporation’s dividend payout ratio is presently -5.23%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. D Orazio & Associates Inc. raised its position in Hess Corporation by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Hess Corporation during the first quarter worth $111,000. State of Alaska Department of Revenue bought a new position in Hess Corporation during the first quarter worth $114,000. Financial Architects Inc raised its position in Hess Corporation by 147.6% in the first quarter. Financial Architects Inc now owns 2,600 shares of the oil and gas producer’s stock worth $125,000 after buying an additional 1,550 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in Hess Corporation by 47.7% in the fourth quarter. Federated Investors Inc. PA now owns 2,577 shares of the oil and gas producer’s stock worth $161,000 after buying an additional 832 shares in the last quarter. Institutional investors own 85.66% of the company’s stock.
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Hess Corporation Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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