KLR Group upgraded shares of Hess Corporation (NYSE:HES) from an accumulate rating to a buy rating in a research report sent to investors on Friday. KLR Group currently has $68.00 price target on the stock.
HES has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Hess Corporation in a research note on Monday, October 31st. Nomura reissued a hold rating and issued a $56.00 price target on shares of Hess Corporation in a research note on Monday, October 3rd. Barclays PLC reissued an equal weight rating and issued a $64.00 price target on shares of Hess Corporation in a research note on Monday, October 10th. Finally, J P Morgan Chase & Co raised shares of Hess Corporation from a neutral rating to an overweight rating and boosted their price target for the company from $58.00 to $65.00 in a research note on Thursday, December 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Hold and an average price target of $63.48.
Shares of Hess Corporation (NYSE:HES) opened at 56.96 on Friday. Hess Corporation has a 52 week low of $34.02 and a 52 week high of $65.56. The firm’s market capitalization is $17.84 billion. The firm has a 50-day moving average of $61.56 and a 200 day moving average of $54.63.
Hess Corporation (NYSE:HES) last released its quarterly earnings results on Wednesday, January 25th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.07. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.23 billion. Hess Corporation had a negative net margin of 63.18% and a negative return on equity of 7.51%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.40) EPS. On average, equities research analysts expect that Hess Corporation will post ($5.07) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, December 15th. Hess Corporation’s dividend payout ratio is currently -9.47%.
In other Hess Corporation news, COO Gregory P. Hill sold 2,951 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total transaction of $152,802.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian D. Truelove sold 5,000 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.41, for a total transaction of $237,050.00. The disclosure for this sale can be found here. 11.83% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HES. SevenBridge Financial Group LLC increased its position in shares of Hess Corporation by 27.3% in the third quarter. SevenBridge Financial Group LLC now owns 2,039 shares of the company’s stock worth $105,000 after buying an additional 437 shares during the last quarter. CKW Financial Group purchased a new position in shares of Hess Corporation during the third quarter worth approximately $118,000. MSI Financial Services Inc increased its position in shares of Hess Corporation by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock worth $144,000 after buying an additional 1,410 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of Hess Corporation during the second quarter worth approximately $155,000. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Hess Corporation during the third quarter worth approximately $200,000. Institutional investors own 83.76% of the company’s stock.
Hess Corporation 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.