Fidelity Management & Research Co has recently announced that it has increased stake in Hess Corporation (NYSE:HES) by 2.53%. After grabbing 32.55 million shares, the institutional investor is now in possession of 0.8 million shares of the Energy Company. The new investment brought the stake of investor firm to 10.60% having worth around $4.57 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.24 million to have a control over 17.9 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 1.39 million shares by acquiring 10.02 million shares or 3.26% of the stake.
Hess Corporation (HES) concluded trading on 12/21/23 at a closing price of $146.15, with 2.08 million shares of worth about $303.49 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.05% during that period and on Thursday the price saw a gain of about 0.26%. Currently the company’s common shares owned by public are about 306.18M shares, out of which, 277.51M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 21 analysts are covering the HES stock and their offered price forecasts bring an average price target of $168.08. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $197.00 and could fall to a lowest price of $150.00. The stock’s current price level is 13.27% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.57% for the stock. However, touching the estimated high of $197.00 would mean a gain of 25.81% 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 72 times over the past 12 months. They bought 734,517 shares in 36 of the transactions. In 36 selling transactions, insiders dumped 921,511 shares.
Vanguard Total Stock Market ETF, SPDR Series – Energy Select Secto, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Hess Corporation Vanguard Total Stock Market ETF is currently holding 8.65 million shares of worth totaling $1.22 billion. The company recently came buying 48145.0 shares which brought its stake up to 2.82% of the company’s outstanding shares. SPDR Series – Energy Select Secto sold 85536.0 shares, after which its hold over company’s outstanding shares shrunk to 2.53%, leaving 7.78 million shares with the mutual fund that have a worth of about $1.09 billion. Vanguard 500 Index Fund, after buying 6.67 million shares, have now control over 2.17% of the stake in the company. It holds 32312.0 shares of worth $938.07 million.
Hess Corporation (NYSE: HES) started trading at $146.11, above $0.34 from concluding price of the previous day. However, the stock later moved at a day high price of 146.54, or with a gain of 0.26%. Stock saw a price change of 2.13% in past 5 days and over the past one month there was a price change of 1.27%. Year-to-date (YTD), HES shares are showing a performance of 3.05% which increased to 7.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $113.82 but also hit the highest price of $167.75 during that period. The average intraday trading volume for Hess Corporation shares is 3.85 million. The stock is currently trading 3.72% above its 20-day simple moving average (SMA20), while that difference is down -0.17% for SMA50 and it goes to 2.20% higher than SMA200.
Fidelity Management & Research Co acquired 32.55 million shares of Hess Corporation having value of about $4.57 billion. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.8 million shares in the company valued at close to $117342519.65, or have control over 2.53% stake in the company. Hess Corporation (NYSE: HES) currently have 306.18M outstanding shares and institutions hold larger chunk of about 84.52% of that. Holding of mutual funds in the company is about 32.51% while other institutional holders and individual stake holders have control over 52.46% and 10.53% of the stake respectively.
The stock has a current market capitalization of $44.89B and its 3Y-monthly beta is at 1.39. PE ratio of stock for trailing 12 months is 28.23, while it has posted earnings per share of $5.18 in the same period. Its PEG reads 3.55 and has Quick Ratio of 1.20 while making debt-to-equity ratio of 1.08. 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 2.01% while standing at 2.63% over the month.
Analysts are in expectations that Hess Corporation (HES) stock would likely to be making an EPS of $Heico Corporation in the current quarter, while forecast for next quarter EPS is $178.85 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $The AES Corporation which is $Hasbro, Inc. 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 $Western Midstream Partners, LP in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -30.03% while it is estimated to increase by 82.90% in next year.
Analysts at 21 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 2.57. Out of those 21 Wall Street analysts, 5 recommended a “Buy” rating, while 15 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 Argus on November 07, 2023 offering a Buy rating for the stock and assigned a target price of $171 to it.
