Brokerages Set Hess Corp. (NYSE:HES) PT at $60.92
Hess Corp. (NYSE:HES) has earned a consensus rating of “Hold” from the twenty-five research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $60.92.
Several equities research analysts recently issued reports on the stock. KLR Group assumed coverage on shares of Hess Corp. in a research note on Monday, September 12th. They issued an “accumulate” rating and a $65.00 target price for the company. Barclays PLC cut their target price on shares of Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Credit Suisse Group AG reiterated a “hold” rating and issued a $66.00 target price on shares of Hess Corp. in a research note on Thursday, July 28th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Hess Corp. in a research note on Wednesday, June 8th. Finally, Zacks Investment Research downgraded shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.
Shares of Hess Corp. (NYSE:HES) opened at 47.00 on Monday. The company’s market capitalization is $14.72 billion. The stock has a 50 day moving average price of $53.20 and a 200 day moving average price of $55.46. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08.
Hess Corp. (NYSE:HES) last issued its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative net margin of 56.22% and a negative return on equity of 7.16%. The business earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted ($0.52) EPS. Hess Corp.’s revenue was down 34.4% on a year-over-year basis. Analysts forecast that Hess Corp. will post ($5.02) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. Hess Corp.’s payout ratio is presently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $55.99, for a total transaction of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 11.83% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Elliott Management Corp raised its position in shares of Hess Corp. by 5.6% in the first quarter. Elliott Management Corp now owns 18,800,000 shares of the company’s stock worth $989,820,000 after buying an additional 1,000,000 shares during the period. Wellington Management Group LLP raised its position in shares of Hess Corp. by 40.2% in the first quarter. Wellington Management Group LLP now owns 17,658,755 shares of the company’s stock worth $929,733,000 after buying an additional 5,067,194 shares during the period. Vanguard Group Inc. raised its position in shares of Hess Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 17,291,164 shares of the company’s stock worth $1,039,199,000 after buying an additional 370,373 shares during the period. State Street Corp raised its position in shares of Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock worth $719,757,000 after buying an additional 1,216,695 shares during the period. Finally, FMR LLC raised its position in shares of Hess Corp. by 6.5% in the second quarter. FMR LLC now owns 8,333,032 shares of the company’s stock worth $500,815,000 after buying an additional 505,553 shares during the period. 82.92% of the stock is currently 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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