Hess Corporation (HES) Rating Reiterated by Morgan Stanley
HES has been the subject of several other reports. Scotiabank set a $53.00 price objective on Hess Corporation and gave the stock a buy rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Hess Corporation from a sell rating to a hold rating in a research note on Tuesday, September 12th. Citigroup Inc. dropped their price objective on Hess Corporation from $55.00 to $49.00 and set a neutral rating for the company in a research note on Friday, July 21st. BMO Capital Markets reiterated a hold rating and set a $42.00 price objective on shares of Hess Corporation in a research note on Friday, September 1st. Finally, BidaskClub upgraded Hess Corporation from a strong sell rating to a sell rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Hess Corporation currently has a consensus rating of Hold and an average price target of $52.13.
Hess Corporation (HES) opened at 42.73 on Friday. The stock’s 50 day moving average is $40.72 and its 200 day moving average is $44.97. Hess Corporation has a 52-week low of $37.25 and a 52-week high of $65.56. The company’s market cap is $13.43 billion.
Hess Corporation (NYSE:HES) last released its quarterly earnings data 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 company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned ($1.10) earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Hess Corporation will post ($4.80) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a $0.25 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Hess Corporation’s payout ratio is -5.18%.
In related news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of Hess Corporation 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian D. Truelove sold 6,000 shares of Hess Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.53, for a total value of $255,180.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,599 shares of company stock valued at $873,466. Corporate insiders own 11.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Westpac Banking Corp increased its position in Hess Corporation by 12.7% in the second quarter. Westpac Banking Corp now owns 159,383 shares of the oil and gas producer’s stock worth $6,992,000 after purchasing an additional 18,000 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in Hess Corporation by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 235,633 shares of the oil and gas producer’s stock worth $10,337,000 after purchasing an additional 772 shares during the period. Sei Investments Co. increased its position 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 worth $6,270,000 after purchasing an additional 9,101 shares during the period. Swiss National Bank increased its position in Hess Corporation by 2.8% in the second quarter. Swiss National Bank now owns 1,037,865 shares of the oil and gas producer’s stock worth $45,531,000 after purchasing an additional 28,200 shares during the period. Finally, Two Sigma Securities LLC acquired a new stake in Hess Corporation in the first quarter worth about $268,000. Hedge funds and other institutional investors own 87.19% 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.
Receive News & Ratings for Hess Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.