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.
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.
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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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