The Hess Corp. (HES) Lifted to Buy at KLR Group

The Hess Corp. (HES) Lifted to Buy at KLR Group

Hess Corp. (NYSE:HES) was upgraded by stock analysts at KLR Group from an “accumulate” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $68.00 price objective on the stock. KLR Group’s target price would indicate a potential upside of 17.81% from the company’s current price.

Several other analysts have also recently issued reports on HES. Goldman Sachs Group Inc. restated a “buy” rating on shares of Hess Corp. in a research report on Monday, October 31st. Nomura restated a “hold” rating and set a $56.00 target price on shares of Hess Corp. in a research report on Monday, October 3rd. Barclays PLC restated an “equal weight” rating and set a $64.00 target price on shares of Hess Corp. in a research report on Monday, October 10th. Finally, JPMorgan Chase & Co. upgraded shares of Hess Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $58.00 to $65.00 in a research report on Thursday, December 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.48.

Shares of Hess Corp. (NYSE:HES) opened at 57.72 on Friday. The company’s market capitalization is $18.08 billion. Hess Corp. has a 52-week low of $34.02 and a 52-week high of $65.56. The firm’s 50-day moving average price is $61.57 and its 200 day moving average price is $54.63.

Hess Corp. (NYSE:HES) last released its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative net margin of 63.18% and a negative return on equity of 7.51%. The business earned $1.20 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned ($1.03) EPS. The business’s revenue was down 29.2% on a year-over-year basis. On average, equities analysts forecast that Hess Corp. will post ($5.07) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. Hess Corp.’s dividend payout ratio is presently -9.47%.

In other Hess Corp. news, COO Gregory P. Hill sold 2,951 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total value of $152,802.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian D. Truelove sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were 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 currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Standard Life Investments LTD boosted its position in Hess Corp. by 22.3% in the second quarter. Standard Life Investments LTD now owns 1,793,133 shares of the company’s stock worth $107,758,000 after buying an additional 326,873 shares in the last quarter. Carmignac Gestion boosted its position in Hess Corp. by 11.1% in the second quarter. Carmignac Gestion now owns 4,567,767 shares of the company’s stock worth $274,523,000 after buying an additional 457,827 shares in the last quarter. Calamos Advisors LLC bought a new position in Hess Corp. during the second quarter worth about $1,787,000. Solaris Asset Management LLC boosted its position in Hess Corp. by 13.8% in the second quarter. Solaris Asset Management LLC now owns 62,791 shares of the company’s stock worth $3,774,000 after buying an additional 7,618 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Hess Corp. during the second quarter worth about $80,777,000. Institutional investors own 82.93% of the company’s stock.

Hess Corp. 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.

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