Hess Corporation (HES) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Hess Corporation (NYSE:HES) have been assigned an average recommendation of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $51.85.
HES has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Hess Corporation from $43.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Hess Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Citigroup Inc. reduced their target price on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Scotiabank set a $52.00 target price on shares of Hess Corporation and gave the stock a “buy” rating in a research note on Friday, August 11th. Finally, BMO Capital Markets restated a “hold” rating and issued a $42.00 target price on shares of Hess Corporation in a research note on Friday, September 1st.
In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. Insiders have sold a total of 21,599 shares of company stock valued at $873,466 over the last 90 days. 11.80% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Barometer Capital Management Inc. purchased a new position in Hess Corporation during the 3rd quarter valued at about $8,628,000. Hermes Investment Management Ltd. increased its holdings in Hess Corporation by 57.0% during the 3rd quarter. Hermes Investment Management Ltd. now owns 1,730,153 shares of the oil and gas producer’s stock valued at $81,127,000 after acquiring an additional 627,795 shares in the last quarter. Shell Asset Management Co. increased its holdings in Hess Corporation by 107.7% during the 3rd quarter. Shell Asset Management Co. now owns 41,064 shares of the oil and gas producer’s stock valued at $3,873,000 after acquiring an additional 21,294 shares in the last quarter. Perpetual Ltd increased its holdings in Hess Corporation by 49.2% during the 2nd quarter. Perpetual Ltd now owns 35,800 shares of the oil and gas producer’s stock valued at $1,571,000 after acquiring an additional 11,800 shares in the last quarter. Finally, Sentry Investment Management LLC increased its holdings in Hess Corporation by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 21,156 shares of the oil and gas producer’s stock valued at $928,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 86.72% of the company’s stock.
Hess Corporation (HES) traded down 0.04% on Friday, reaching $45.03. 3,025,050 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $43.95 and a 200-day moving average price of $44.57. Hess Corporation has a 1-year low of $37.25 and a 1-year high of $65.56. The company’s market capitalization is $14.16 billion.
Hess Corporation (NYSE:HES) last released its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted ($1.10) EPS. The firm’s revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Hess Corporation will post ($4.77) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $1.00 annualized dividend and a yield of 2.22%. Hess Corporation’s dividend payout ratio (DPR) is currently -5.18%.
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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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