Hess (HES) Shares Gap Down to $59.01

Shares of Hess Corp. (NYSE:HES) gapped down prior to trading on Friday . The stock had previously closed at $55.83, but opened at $59.01. Hess shares last traded at $59.12, with a volume of 81437 shares traded.

HES has been the subject of a number of research reports. ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Morgan Stanley set a $63.00 price objective on Hess and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, April 30th. Capital One Financial upgraded Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Finally, Stephens lowered Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective for the company. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Hess currently has a consensus rating of “Hold” and an average price target of $68.69.

The company has a quick ratio of 1.57, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $19.45 billion, a PE ratio of -80.04 and a beta of 1.96.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.35. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned ($0.27) earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that Hess Corp. will post 0.23 earnings per share for the current fiscal year.

In other news, SVP Timothy B. Goodell sold 6,208 shares of Hess stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $56.06, for a total transaction of $348,020.48. Following the transaction, the senior vice president now owns 64,394 shares in the company, valued at approximately $3,609,927.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory P. Hill sold 63,806 shares of Hess stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $66.62, for a total value of $4,250,755.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,173 shares of company stock worth $9,377,165. Company insiders own 12.22% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HES. Loews Corp lifted its stake in Hess by 91.2% in the 4th quarter. Loews Corp now owns 11,425 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 5,450 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Hess by 7.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 173,021 shares of the oil and gas producer’s stock valued at $10,421,000 after acquiring an additional 11,857 shares in the last quarter. OLD Dominion Capital Management Inc. lifted its stake in Hess by 3.0% in the 4th quarter. OLD Dominion Capital Management Inc. now owns 49,082 shares of the oil and gas producer’s stock valued at $1,988,000 after acquiring an additional 1,450 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in Hess in the 4th quarter valued at approximately $2,106,000. Finally, Manning & Napier Group LLC lifted its stake in Hess by 44.6% in the 4th quarter. Manning & Napier Group LLC now owns 33,436 shares of the oil and gas producer’s stock valued at $1,353,000 after acquiring an additional 10,305 shares in the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

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Hess Company Profile (NYSE:HES)

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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