Hess Corporation (HES) Downgraded by Wolfe Research
Several other research analysts have also recently commented on the stock. Bank of America Corporation restated a buy rating and issued a $80.00 target price on shares of Hess Corporation in a research report on Friday, April 14th. Barclays PLC decreased their price objective on shares of Hess Corporation from $39.00 to $37.00 and set an overweight rating for the company in a report on Monday, April 17th. BMO Capital Markets reiterated a hold rating and issued a $55.00 price objective on shares of Hess Corporation in a report on Monday, May 15th. Wells Fargo & Company upgraded shares of Hess Corporation from a market perform rating to an outperform rating and decreased their price objective for the company from $46.13 to $45.84 in a report on Friday, May 5th. They noted that the move was a valuation call. Finally, Scotiabank set a $52.00 price objective on shares of Hess Corporation and gave the company a buy rating in a report on Monday, March 27th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $55.55.
Shares of Hess Corporation (NYSE:HES) traded down 1.1773% during trading on Monday, hitting $43.5314. The company’s stock had a trading volume of 500,660 shares. The firm’s 50 day moving average price is $43.66 and its 200-day moving average price is $49.23. Hess Corporation has a 52 week low of $39.89 and a 52 week high of $65.56. The company’s market cap is $13.66 billion.
Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.03. Hess Corporation had a negative net margin of 116.02% and a negative return on equity of 7.15%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned ($1.72) EPS. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, analysts predict that Hess Corporation will post ($4.26) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $1.00 annualized dividend and a yield of 2.27%. Hess Corporation’s dividend payout ratio is -5.23%.
A number of hedge funds have recently bought and sold shares of HES. Great West Life Assurance Co. Can raised its stake in Hess Corporation by 73.9% in the first quarter. Great West Life Assurance Co. Can now owns 424,417 shares of the oil and gas producer’s stock valued at $20,508,000 after buying an additional 180,409 shares in the last quarter. Sei Investments Co. raised its stake in Hess Corporation by 7.5% in the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock valued at $6,270,000 after buying an additional 9,101 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Hess Corporation by 4.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 97,344 shares of the oil and gas producer’s stock valued at $4,692,000 after buying an additional 4,124 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Hess Corporation during the first quarter valued at about $268,000. Finally, Advisors Asset Management Inc. raised its stake in Hess Corporation by 8.5% in the first quarter. Advisors Asset Management Inc. now owns 14,422 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 1,131 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.
About Hess Corporation
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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