Hess Corp. (NYSE:HES)‘s stock had its “hold” rating reiterated by equities research analysts at Barclays PLC in a research note issued on Friday, April 14th. They currently have a $61.00 price objective on the oil and gas producer’s stock, down from their previous price objective of $64.00. Barclays PLC’s price objective indicates a potential upside of 27.67% from the stock’s previous close.
Several other analysts have also recently issued reports on HES. Evercore ISI cut shares of Hess Corp. to a “buy” rating in a research note on Friday, March 3rd. KLR Group reiterated a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Hess Corp. in a report on Thursday, January 26th. Wolfe Research upgraded shares of Hess Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, April 10th. Goldman Sachs Group Inc lowered shares of Hess Corp. from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, March 1st. Finally, Scotiabank set a $52.00 target price on shares of Hess Corp. and gave the company a “buy” rating in a report on Monday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Hess Corp. has a consensus rating of “Buy” and an average price target of $57.80.
Shares of Hess Corp. (NYSE:HES) traded up 2.49% during mid-day trading on Friday, hitting $48.97. The stock had a trading volume of 2,479,295 shares. Hess Corp. has a 52-week low of $45.12 and a 52-week high of $65.56. The stock’s market cap is $15.37 billion. The company’s 50 day moving average is $48.38 and its 200-day moving average is $52.77.
Hess Corp. (NYSE:HES) last released its earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.03. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Hess Corp. had a negative net margin of 126.59% and a negative return on equity of 7.51%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.72) earnings per share. On average, equities research analysts anticipate that Hess Corp. will post ($3.54) earnings per share for the current fiscal year.
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In related news, Director William G. Schrader bought 484 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were purchased at an average cost of $51.71 per share, with a total value of $25,027.64. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John P. Rielly sold 2,205 shares of the stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $51.03, for a total transaction of $112,521.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,300 shares of company stock worth $1,839,552. Insiders own 11.83% of the company’s stock.
Hedge funds have recently modified their holdings of the company. City Financial Investment Co Ltd acquired a new stake in shares of Hess Corp. during the first quarter worth $5,229,000. Bank of Nova Scotia boosted its stake in shares of Hess Corp. by 5,959.5% in the first quarter. Bank of Nova Scotia now owns 361,629 shares of the oil and gas producer’s stock worth $17,435,000 after buying an additional 355,661 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its stake in shares of Hess Corp. by 9.2% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 80,313 shares of the oil and gas producer’s stock worth $3,872,000 after buying an additional 6,770 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in shares of Hess Corp. by 48.5% in the first quarter. Point72 Asia Hong Kong Ltd now owns 5,949 shares of the oil and gas producer’s stock worth $287,000 after buying an additional 1,943 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its stake in shares of Hess Corp. by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.
About Hess Corp.
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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