Stock On Watch: Could Hess Corp. Change Direction After Today’s Significant Increase?

Stock On Watch: Could Hess Corp. Change Direction After Today's Significant Increase?

The stock of Hess Corp. (NYSE:HES) is a huge mover today! About 6.54M shares traded hands or 68.12% up from the average. Hess Corp. (NYSE:HES) has declined 19.94% since April 27, 2016 and is downtrending. It has underperformed by 25.17% the S&P500.
The move comes after 6 months positive chart setup for the $16.93B company. It was reported on Nov, 30 by Barchart.com. We have $57.81 PT which if reached, will make NYSE:HES worth $677.20 million more.

Analysts await Hess Corp. (NYSE:HES) to report earnings on January, 25. They expect $-0.98 earnings per share, up 30.00% or $0.42 from last year’s $-1.4 per share. After $-1.12 actual earnings per share reported by Hess Corp. for the previous quarter, Wall Street now forecasts -12.50% EPS growth.

Hess Corp. (NYSE:HES) Ratings Coverage

Out of 15 analysts covering Hess Corp. (NYSE:HES), 6 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 40% are positive. Hess Corp. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Thursday, April 28 the stock rating was downgraded by UBS to “Neutral”. Citigroup downgraded Hess Corp. (NYSE:HES) on Tuesday, January 5 to “Neutral” rating. The company was initiated on Tuesday, December 15 by Credit Agricole. The company was upgraded on Tuesday, March 22 by Atlantic Securities. The stock of Hess Corp. (NYSE:HES) earned “Neutral” rating by JP Morgan on Wednesday, December 9. Credit Suisse downgraded the shares of HES in a report on Thursday, April 28 to “Neutral” rating. As per Thursday, April 7, the company rating was maintained by Citigroup. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, January 12. The company was initiated on Monday, September 12 by KLR Group. Zacks downgraded the stock to “Buy” rating in Saturday, August 8 report.

According to Zacks Investment Research, “New York-based Hess Corporation, previously known as Amerada Hess Corporation, is a global exploration and production company that develops, produces, purchases, transports and sells crude oil and natural gas. The company’s E&P activities are concentrated in Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Russia, Thailand, the United Kingdom and the United States. As of year-end 2014, Hess’ proved reserves tally stood at 1.43 billion oil-equivalent barrels. In 2013, Hess sold its gas stations and exited the refining business to operate as a pure play E&P.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.08, from 1.06 in 2016Q1. The ratio is negative, as 47 funds sold all Hess Corp. shares owned while 184 reduced positions. 64 funds bought stakes while 181 increased positions. They now own 240.51 million shares or 0.38% more from 239.60 million shares in 2016Q1.
Nuveen Asset Mgmt Limited Liability Corporation has invested 0.02% of its portfolio in Hess Corp. (NYSE:HES). Wilen Investment Mgmt Corporation has 0.55% invested in the company for 14,012 shares. The Georgia-based Advisory Services Lc has invested 0.01% in Hess Corp. (NYSE:HES). Cornerstone Advsr accumulated 96 shares or 0.01% of the stock. Wesbanco Bank last reported 0.01% of its portfolio in the stock. Letko Brosseau Associate holds 1.40M shares or 0.8% of its portfolio. Concert Wealth Mgmt Inc last reported 5,999 shares in the company. Bollard Group Ltd Liability Corp has 0.04% invested in the company for 10,250 shares. Tci Wealth Advsrs accumulated 11 shares or 0% of the stock. Moreover, Guardian Life Insur Com Of America has 0% invested in Hess Corp. (NYSE:HES) for 986 shares. Waverton Inv Management last reported 25,520 shares in the company. State Board Of Administration Of Florida Retirement System last reported 0.08% of its portfolio in the stock. Mayo Invest Advisers Ltd Liability owns 226,525 shares or 2.71% of their US portfolio. The France-based Bnp Paribas Partners has invested 0.21% in Hess Corp. (NYSE:HES). Comerica Bancorporation holds 0.04% or 82,017 shares in its portfolio.

Insider Transactions: Since August 5, 2016, the stock had 0 insider buys, and 4 sales for $1.34 million net activity. 2,000 shares were sold by Truelove Brian D., worth $108,520 on Friday, August 5. $152,803 worth of Hess Corp. (NYSE:HES) shares were sold by Hill Gregory P..

HES Company Profile

Hess Corporation (Hess), incorporated on February 7, 1920, is an exploration and production (E&P) company. The Firm is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. The Company’s divisions include E&P and Bakken Midstream. The Company’s E&P segment is engaged in the sale of crude oil, natural gas liquids and natural gas. The Bakken Midstream segment provides services, including natural gas and crude oil gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading natural gas and crude oil liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota. The Firm has production activities located in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand (JDA), Malaysia and Norway.

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