Several other equities analysts have also recently weighed in on HES. Simmons raised their price objective on Hess Corp. from $59.00 to $64.00 and gave the company an overweight rating in a report on Tuesday, July 12th. Zacks Investment Research cut Hess Corp. from a buy rating to a hold rating in a report on Wednesday, July 20th. Credit Suisse Group AG restated a hold rating and issued a $66.00 price objective on shares of Hess Corp. in a report on Thursday, July 28th. Bank of America Corp. reiterated a buy rating and set a $85.00 price target on shares of Hess Corp. in a report on Monday, August 22nd. Finally, KLR Group began coverage on Hess Corp. in a report on Monday, September 12th. They set an accumulate rating and a $65.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $61.09.
Hess Corp. (NYSE:HES) opened at 51.52 on Monday. The firm has a 50-day moving average price of $51.10 and a 200 day moving average price of $55.44. Hess Corp. has a 12-month low of $32.41 and a 12-month high of $64.08. The firm’s market cap is $16.14 billion.
Hess Corp. (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. The company earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. Hess Corp.’s revenue for the quarter was down 34.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.52) EPS. Equities research analysts forecast that Hess Corp. will post ($4.87) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. Hess Corp.’s payout ratio is presently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $55.99, for a total transaction of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 11.83% of the company’s stock.
Several hedge funds have recently bought and sold shares of HES. Bollard Group LLC boosted its stake in Hess Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 10,250 shares of the company’s stock worth $616,000 after buying an additional 48 shares during the last quarter. River Wealth Advisors LLC boosted its stake in Hess Corp. by 0.7% in the second quarter. River Wealth Advisors LLC now owns 7,179 shares of the company’s stock worth $431,000 after buying an additional 53 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake in Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock worth $207,000 after buying an additional 55 shares during the last quarter. Creative Planning boosted its stake in Hess Corp. by 1.4% in the third quarter. Creative Planning now owns 9,747 shares of the company’s stock worth $523,000 after buying an additional 132 shares during the last quarter. Finally, Conning Inc. boosted its stake in Hess Corp. by 1.9% in the second quarter. Conning Inc. now owns 7,857 shares of the company’s stock worth $472,000 after buying an additional 150 shares during the last quarter. 82.92% of the stock is currently owned by hedge funds and other institutional investors.
Hess Corp. Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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