Traders Sell Shares of Hess (HES) on Strength (HES)
Traders sold shares of Hess Corp. (NYSE:HES) on strength during trading on Thursday. $18.67 million flowed into the stock on the tick-up and $47.98 million flowed out of the stock on the tick-down, for a money net flow of $29.31 million out of the stock. Of all equities tracked, Hess had the 12th highest net out-flow for the day. Hess traded up $0.22 for the day and closed at $48.36
HES has been the subject of a number of research reports. Zacks Investment Research lowered shares of Hess from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. BMO Capital Markets set a $45.00 target price on shares of Hess and gave the company a “hold” rating in a research note on Tuesday, October 10th. Scotiabank set a $52.00 target price on shares of Hess and gave the company a “buy” rating in a research note on Wednesday, October 25th. Credit Suisse Group initiated coverage on shares of Hess in a research note on Monday, December 11th. They set an “underperform” rating and a $38.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.87.
The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $15,300.00, a PE ratio of -2.40 and a beta of 1.76.
Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted ($1.12) EPS. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. equities analysts predict that Hess Corp. will post -4.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, December 15th. Hess’s payout ratio is -4.95%.
In other news, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.80% of the company’s stock.
Several hedge funds have recently modified their holdings of HES. Vanguard Group Inc. boosted its holdings in Hess by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 19,787,281 shares of the oil and gas producer’s stock worth $868,068,000 after buying an additional 449,097 shares during the period. State Street Corp boosted its holdings in Hess by 1.3% in the 2nd quarter. State Street Corp now owns 15,518,364 shares of the oil and gas producer’s stock worth $680,786,000 after buying an additional 198,888 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Hess by 13.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock worth $431,688,000 after buying an additional 1,123,000 shares during the period. Alliancebernstein L.P. boosted its holdings in Hess by 6.3% in the 2nd quarter. Alliancebernstein L.P. now owns 7,027,470 shares of the oil and gas producer’s stock worth $308,295,000 after buying an additional 416,608 shares during the period. Finally, Capital World Investors boosted its holdings in Hess by 1.8% in the 2nd quarter. Capital World Investors now owns 6,811,400 shares of the oil and gas producer’s stock worth $298,816,000 after buying an additional 119,241 shares during the period. 89.12% of the stock is owned by hedge funds and other institutional investors.
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Hess Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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