Hess Corp. (NYSE:HES) COO Gregory P. Hill sold 17,750 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.94, for a total transaction of $1,259,185.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE:HES traded up $0.86 during trading on Friday, reaching $66.77. The stock had a trading volume of 1,867,865 shares, compared to its average volume of 3,191,973. Hess Corp. has a 52 week low of $35.59 and a 52 week high of $71.06. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of -90.23 and a beta of 1.97. The company has a quick ratio of 1.46, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $63.18 and a two-hundred day simple moving average of $61.99.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a net margin of 1.09% and a return on equity of 0.46%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Hess Corp. will post -0.44 EPS for the current year.
A number of analysts have recently issued reports on HES shares. Morgan Stanley set a $69.00 price target on shares of Hess and gave the stock a “buy” rating in a research report on Monday, June 24th. ValuEngine raised shares of Hess from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Citigroup started coverage on shares of Hess in a research report on Monday, September 23rd. They issued a “neutral” rating and a $70.00 price target for the company. Barclays started coverage on shares of Hess in a research report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price target for the company. Finally, Bank of America reissued a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Hess in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.08.
Several large investors have recently added to or reduced their stakes in HES. Geode Capital Management LLC raised its position in shares of Hess by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,244,017 shares of the oil and gas producer’s stock valued at $131,146,000 after purchasing an additional 127,569 shares during the period. Stephens Inc. AR bought a new position in shares of Hess in the first quarter valued at approximately $208,000. American International Group Inc. raised its position in shares of Hess by 1.0% in the first quarter. American International Group Inc. now owns 114,445 shares of the oil and gas producer’s stock valued at $6,893,000 after purchasing an additional 1,117 shares during the period. Moors & Cabot Inc. bought a new position in shares of Hess in the first quarter valued at approximately $274,000. Finally, Raymond James & Associates grew its stake in shares of Hess by 2.3% in the first quarter. Raymond James & Associates now owns 66,526 shares of the oil and gas producer’s stock worth $4,007,000 after acquiring an additional 1,469 shares during the last quarter. 90.10% of the stock is currently owned by institutional investors.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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