March 28th, 2016 - By Jennifer Langley - 0 comments
Hess Corp. logoHess Corp. (NYSE:HES) has been given a consensus rating of “Buy” by the twenty-three analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $60.32.
Hess Corp. (NYSE:HES) traded down 2.65% during trading on Monday, reaching $50.72. 2,983,681 shares of the company’s stock traded hands. The stock’s market capitalization is $14.51 billion. The company has a 50-day moving average of $45.81 and a 200 day moving average of $50.79. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $79.00.
Hess Corp. (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 27th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.07. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was down 45.1% compared to the same quarter last year. On average, equities research analysts expect that Hess Corp. will post ($5.94) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Thursday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%.
Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Hess Corp. from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Monday, February 8th. Iberia Capital reduced their price target on shares of Hess Corp. from $63.00 to $53.00 and set a “sector perform” rating for the company in a report on Friday, March 4th. Citigroup Inc. downgraded shares of Hess Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Credit Agricole reissued a “buy” rating on shares of Hess Corp. in a report on Tuesday, December 15th. Finally, Mitsubishi UFJ Financial Group Inc reissued an “overweight” rating on shares of Hess Corp. in a report on Tuesday, December 8th.
In other Hess Corp. news, CEO John B. Hess bought 51,282 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were bought at an average price of $39.00 per share, for a total transaction of $1,999,998.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Gregory P. Hill sold 12,524 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $39.36, for a total value of $492,944.64. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new position in shares of Hess Corp. during the fourth quarter worth $17,999,000. British Columbia Investment Management Corp increased its position in shares of Hess Corp. by 1.7% in the fourth quarter. British Columbia Investment Management Corp now owns 169,630 shares of the company’s stock worth $8,224,000 after buying an additional 2,792 shares in the last quarter. Factory Mutual Insurance Company acquired a new position in shares of Hess Corp. during the fourth quarter worth $6,302,000. Fourth Swedish National Pension Fund increased its position in shares of Hess Corp. by 11.0% in the fourth quarter. Fourth Swedish National Pension Fund now owns 57,413 shares of the company’s stock worth $2,783,000 after buying an additional 5,703 shares in the last quarter. Finally, Mizuho Securities USA Inc. acquired a new position in shares of Hess Corp. during the fourth quarter worth $2,666,000.
Hess Corporation (NYSE:HES) is an exploration and production (E&P) company that develops, produces, purchases, transports and sells crude oil and natural gas. Its production operations are located primarily in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia and Norway.
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