Hess Corp. (NYSE:HES)‘s stock had its “hold” rating reaffirmed by research analysts at Nomura in a note issued to investors on Monday. They presently have a $56.00 price target on the stock. Nomura’s price objective would suggest a potential upside of 7.18% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Hess Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, September 12th. Zacks Investment Research raised shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, July 29th. Bank of America Corp. reissued a “buy” rating and issued a $85.00 price target on shares of Hess Corp. in a research note on Monday, August 22nd. Simmons reissued an “overweight” rating on shares of Hess Corp. in a research note on Thursday, August 11th. Finally, Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Hess Corp. in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.30.
Shares of Hess Corp. (NYSE:HES) opened at 52.25 on Monday. The firm’s market capitalization is $16.36 billion. Hess Corp. has a 52 week low of $32.41 and a 52 week high of $64.08. The firm has a 50-day moving average of $51.87 and a 200 day moving average of $55.49.
Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.14. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Hess Corp. had a negative net margin of 56.22% and a negative return on equity of 7.16%. The business’s revenue was down 34.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. On average, equities research analysts expect that Hess Corp. will post ($5.08) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, September 15th. Hess Corp.’s dividend payout ratio is currently -9.60%.
In related news, COO Gregory P. Hill sold 15,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.83% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Brookfield Asset Management Inc. acquired a new stake in shares of Hess Corp. during the first quarter worth $326,000. Bessemer Group Inc. increased its position in shares of Hess Corp. by 782.1% in the first quarter. Bessemer Group Inc. now owns 10,771 shares of the company’s stock worth $567,000 after buying an additional 9,550 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Hess Corp. during the first quarter worth approximately $3,097,000. JPMorgan Chase & Co. increased its position in shares of Hess Corp. by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 2,236,333 shares of the company’s stock worth $117,744,000 after buying an additional 351,075 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Hess Corp. by 4.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,067,452 shares of the company’s stock worth $372,101,000 after buying an additional 328,825 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.
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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