Hess Corporation (HES) Trading 6.1% Higher
Hess Corporation (NYSE:HES) traded up 6.1% during trading on Tuesday . The company traded as high as $48.29 and last traded at $48.23. 6,481,754 shares changed hands during trading, an increase of 45% from the average session volume of 4,470,000 shares. The stock had previously closed at $45.46.
A number of equities research analysts have recently commented on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $50.00 price objective (down previously from $61.00) on shares of Hess Corporation in a research note on Wednesday, July 12th. J P Morgan Chase & Co cut shares of Hess Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $45.00 in a research note on Thursday, September 14th. BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 price objective on shares of Hess Corporation in a research note on Friday, September 1st. Citigroup Inc. dropped their price objective on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Finally, Cowen and Company set a $50.00 price objective on shares of Hess Corporation and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Hess Corporation currently has an average rating of “Hold” and an average target price of $51.66.
The company has a debt-to-equity ratio of 0.55, a current ratio of 1.84 and a quick ratio of 1.84.
Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. Hess Corporation had a negative return on equity of 9.69% and a negative net margin of 113.21%. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.12) EPS. equities research analysts anticipate that Hess Corporation will post -4.75 earnings per share for the current fiscal year.
In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian D. Truelove sold 6,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were 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. Company insiders own 11.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Thrivent Financial For Lutherans raised its holdings in shares of Hess Corporation by 6.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 9,900 shares of the oil and gas producer’s stock worth $477,000 after acquiring an additional 580 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Hess Corporation during the 1st quarter worth $111,000. Tudor Investment Corp ET AL purchased a new position in shares of Hess Corporation during the 1st quarter worth $551,000. Xact Kapitalforvaltning AB raised its holdings in shares of Hess Corporation by 9.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,347 shares of the oil and gas producer’s stock worth $1,024,000 after acquiring an additional 2,109 shares during the period. Finally, Lenox Wealth Advisors Inc. purchased a new position in shares of Hess Corporation during the 2nd quarter worth $132,000. Institutional investors own 87.89% of the company’s stock.
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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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