Hess Corp. (HES) Now Covered by KLR Group
Research analysts at KLR Group began coverage on shares of Hess Corp. (NYSE:HES) in a research report issued on Monday. The firm set an “accumulate” rating and a $65.00 price target on the stock. KLR Group’s price target indicates a potential upside of 39.85% from the stock’s previous close.
HES has been the subject of a number of other reports. Bank of America Corp. restated a “buy” rating and set a $85.00 price target on shares of Hess Corp. in a research report on Monday, August 22nd. Credit Suisse Group AG restated a “hold” rating and set a $66.00 price target on shares of Hess Corp. in a research report on Thursday, July 28th. Simmons restated an “overweight” rating and set a $60.00 price target (down from $64.00) on shares of Hess Corp. in a research report on Sunday, July 31st. Zacks Investment Research upgraded shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Hess Corp. in a research report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.61.
Shares of Hess Corp. (NYSE:HES) traded down 0.36% on Monday, reaching $46.48. The company had a trading volume of 5,518,832 shares. Hess Corp. has a one year low of $32.41 and a one year high of $64.08. The company’s market capitalization is $14.56 billion. The company’s 50-day moving average is $54.22 and its 200-day moving average is $55.52.
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Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.14. The firm earned $1.27 billion during the quarter, compared to analyst estimates 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 for the quarter was down 34.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.52) EPS. Equities research analysts predict that Hess Corp. will post ($5.02) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, September 15th. Hess Corp.’s dividend payout ratio (DPR) is presently -9.60%.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $55.99, for a total value of $839,850.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.83% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Exane Derivatives boosted its stake in Hess Corp. by 23.5% in the second quarter. Exane Derivatives now owns 2,333 shares of the company’s stock worth $140,000 after buying an additional 444 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Hess Corp. during the second quarter worth approximately $155,000. 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. Brandes Investment Partners LP purchased a new stake in Hess Corp. during the second quarter worth approximately $208,000. Finally, Advisor Partners LLC purchased a new stake in Hess Corp. during the second quarter worth approximately $212,000. Institutional investors and hedge funds own 82.93% 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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