Investors Sell Hess Corporation (NYSE:HES) on Strength Following Analyst Downgrade

Investors sold shares of Hess Corporation (NYSE:HES) on strength during trading hours on Monday after BidaskClub downgraded the stock from a sell rating to a strong sell rating. $13.78 million flowed into the stock on the tick-up and $65.87 million flowed out of the stock on the tick-down, for a money net flow of $52.09 million out of the stock. Of all equities tracked, Hess Corporation had the 0th highest net out-flow for the day. Hess Corporation traded up $0.67 for the day and closed at $44.13

HES has been the topic of several other reports. Wolfe Research upgraded Hess Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, April 10th. Barclays PLC restated a “hold” rating and set a $61.00 price target (down from $64.00) on shares of Hess Corporation in a report on Friday, April 14th. Bank of America Corporation restated a “buy” rating and set a $80.00 price target on shares of Hess Corporation in a report on Friday, April 14th. KLR Group reaffirmed a “buy” rating and issued a $60.00 price objective (up from $58.00) on shares of Hess Corporation in a research note on Saturday, April 29th. Finally, Wells Fargo & Company raised Hess Corporation from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $46.13 to $45.84 in a research note on Friday, May 5th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $54.06.

In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Nikko Asset Management Americas Inc. increased its stake in shares of Hess Corporation by 32.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 223,870 shares of the oil and gas producer’s stock valued at $10,793,000 after buying an additional 55,200 shares during the period. Strs Ohio increased its stake in shares of Hess Corporation by 19.6% in the first quarter. Strs Ohio now owns 945,339 shares of the oil and gas producer’s stock valued at $45,574,000 after buying an additional 154,875 shares during the period. Shell Asset Management Co. increased its stake in shares of Hess Corporation by 4.8% in the first quarter. Shell Asset Management Co. now owns 19,770 shares of the oil and gas producer’s stock valued at $953,000 after buying an additional 905 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Hess Corporation by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 23,342 shares of the oil and gas producer’s stock valued at $1,125,000 after buying an additional 1,980 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of Hess Corporation by 19.5% in the first quarter. Glen Harbor Capital Management LLC now owns 8,778 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 1,430 shares during the period. Institutional investors and hedge funds own 86.32% of the company’s stock.

The company’s market capitalization is $12.09 billion. The stock has a 50 day moving average of $42.91 and a 200 day moving average of $46.90.

Hess Corporation (NYSE:HES) last announced 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 Zacks’ consensus estimate of ($1.32) by $0.14. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.10) EPS. Analysts forecast that Hess Corporation will post ($4.79) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Investors Sell Hess Corporation (NYSE:HES) on Strength Following Analyst Downgrade” was reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.com-unik.info/2017/08/19/investors-sell-shares-of-hess-corporation-nysehes-on-strength-following-analyst-downgrade-updated-updated-updated.html.

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.

What are top analysts saying about Hess Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Hess Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit