Hess Corporation (HES) Given a $45.00 Price Target at BMO Capital Markets
Hess Corporation (NYSE:HES) received a $45.00 price target from equities researchers at BMO Capital Markets in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ price target suggests a potential upside of 1.56% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. Citigroup Inc. lowered their price target on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Cowen and Company set a $55.00 price target on Hess Corporation and gave the stock a “hold” rating in a report on Monday, July 10th. Zacks Investment Research upgraded Hess Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Capital One Financial Corporation downgraded Hess Corporation from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $65.00 to $50.00 in a report on Wednesday, June 21st. Finally, Wolfe Research downgraded Hess Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $52.06.
Shares of Hess Corporation (HES) opened at 44.31 on Tuesday. Hess Corporation has a 12 month low of $37.25 and a 12 month high of $65.56. The firm’s 50-day moving average price is $42.42 and its 200-day moving average price is $44.68. The firm’s market capitalization is $13.93 billion.
Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.14). Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned ($1.10) earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Hess Corporation will post ($4.81) earnings per share for the current year.
In other news, insider Brian D. Truelove sold 6,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here. Insiders have sold 21,599 shares of company stock valued at $873,466 over the last ninety days. 11.80% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Perpetual Ltd boosted its position in shares of Hess Corporation by 49.2% during the second quarter. Perpetual Ltd now owns 35,800 shares of the oil and gas producer’s stock worth $1,571,000 after buying an additional 11,800 shares during the period. Sentry Investment Management LLC boosted its position in shares of Hess Corporation by 1.1% during the second quarter. Sentry Investment Management LLC now owns 21,156 shares of the oil and gas producer’s stock worth $928,000 after buying an additional 224 shares during the period. Toronto Dominion Bank boosted its position in shares of Hess Corporation by 361.6% during the second quarter. Toronto Dominion Bank now owns 342,958 shares of the oil and gas producer’s stock worth $15,043,000 after buying an additional 268,655 shares during the period. Archford Capital Strategies LLC boosted its position in shares of Hess Corporation by 14,558.3% during the second quarter. Archford Capital Strategies LLC now owns 18,616 shares of the oil and gas producer’s stock worth $264,000 after buying an additional 18,489 shares during the period. Finally, Linscomb & Williams Inc. boosted its position in shares of Hess Corporation by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 21,171 shares of the oil and gas producer’s stock worth $929,000 after buying an additional 71 shares during the period. 87.20% of the stock is owned by institutional investors.
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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