SSgA Funds Management, Inc. has recently announced that it has increased stake in Hess Corporation (NYSE:HES) by 3.89%. After grabbing 15.31 million shares, the institutional investor is now in possession of 0.57 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.98% having worth around $753.38 million. Moreover, BlackRock Fund Advisors increased its share by 96145.0 to have a control over 13.12 million shares. And T. Rowe Price Associates, Inc. (I.. raised its holdings to 2.51 million shares by acquiring 7.4 million shares or 2.41% of the stake.
Hess Corporation (HES) concluded trading on 08/26/20 at a closing price of $46.30, with 1.54 million shares of worth about $71.3 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -4.52% during that period and on Wednesday the price saw a loss of about -4.18%. Currently the company’s common shares owned by public are about 305.00M shares, out of which, 273.73M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 27 analysts are covering the HES stock and their offered price forecasts bring an average price target of $58.42. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $74.00 and could fall to a lowest price of $48.00. Analysts also issued an outlook of 2.10 for the Hess Corporation stock for next 12 months. The stock’s current price level is 19.35% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.54 for the stock. However, touching the estimated high of $74.00 would mean a gain of 37.43% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 112 times over the past 12 months. They bought 864,910 shares in 50 of the transactions. In 62 selling transactions, insiders dumped 1,767,881 shares.
Dodge & Cox Funds – Stock Fund, Vanguard Total Stock Market Index, and American Balanced Fund are the top 3 mutual funds which are holding stakes in Hess Corporation Dodge & Cox Funds – Stock Fund is currently holding 12.08 million shares of worth totaling $594.41 million. The company recently came selling -0.2 million shares which brought its stake up to 3.93% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 32377.0 shares, after which its hold over company’s outstanding shares shrunk to 2.56%, leaving 7.86 million shares with the mutual fund that have a worth of about $386.98 million. American Balanced Fund, after buying 7.5 million shares, have now control over 2.44% of the stake in the company. It holds 0.25 million shares of worth $369.07 million.
Hess Corporation (NYSE: HES) started trading at $48.12, below -$0.2 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $46.30, or with a loss of -4.18%. Stock saw a price change of -4.52% in past 5 days and over the past one month there was a price change of -3.74%. Year-to-date (YTD), HES shares are showing a performance of -30.70% which decreased to -22.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $26.06 but also hit the highest price of $74.11 during that period. While comparing its average daily trading volume of 2.31 million shares, we see that about 1.54 million changed hands on the day. The stock is currently trading -9.13% below its 20-day simple moving average (SMA20), while that difference is down -7.67% for SMA50 and it goes to -12.08% lower than SMA200.
SSgA Funds Management, Inc. acquired 15.31 million shares of Hess Corporation having value of about $753.38 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.57 million shares in the company valued at close to $26551105.4, or have control over 3.89% stake in the company. Hess Corporation (NYSE: HES) currently have 305.00M outstanding shares and institutions hold larger chunk of about 88.50% of that. Holding of mutual funds in the company is about 29.57% while other institutional holders and individual stake holders have control over 57.20% and 11.99% of the stake respectively.
The stock has a current market capitalization of $14.41B and its 3Y-monthly beta is at 2.30. It has posted earnings per share of -$10.49 in the same period. It has Quick Ratio of 1.80 while making debt-to-equity ratio of 1.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HES, volatility over the week remained 3.03% while standing at 3.82% over the month.
Analysts are in expectations that Hess Corporation (HES) stock would likely to be making an EPS of -$0.54 in the current quarter, while forecast for next quarter ESPS is $0.18 and it is -$2.1 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.88 which is -$0.02 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -24.40% while it is estimated to decrease by -7.20% in next year.
Analysts at 27 brokerage firms have issued recommendations for the Hess Corporation (HES)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 27 Wall Street analysts, 15 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on August 05, 2020 offering a Neutral rating for the stock and assigned a target price of $52 to it. Coverage by Wolfe Research stated Hess Corporation (HES) stock as an Outperform in their note to investors on July 15, 2020, suggesting a price target of for the stock. On June 02, 2020, Citigroup Upgrade their recommendations, while on June 01, 2020, JP Morgan Upgrade their ratings for the stock with a price target of $53. Stock get an Overweight rating from Stephens on March 20, 2020.