Tudor Pickering slashes price target on Hess Corporation [HES] – find out why.

Hess Corporation [NYSE: HES] traded at a low on 07/07/21, posting a -2.16 loss after which it closed the day’ session at $83.34. The company report on July 7, 2021 that Hess Corporation Announces $1.4 Million Grant to Jackie Robinson Foundation.

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Hess Corporation (NYSE: HES) announced a $1.4 million grant to the Jackie Robinson Foundation (JRF) as part of the company’s longstanding commitment to diversity, equity and inclusion.

The grant includes $1 million to support the new Jackie Robinson Museum being built in New York City, which will serve as a venue for innovative educational programming and dialogue on critical social issues. The remaining $400,000 will provide four-year scholarships and support services as part of the JRF Scholarship Program to five underrepresented college students starting in the fall of 2021. In addition, Hess will provide internship opportunities for JRF Scholars, with a goal of five Hess JRF Scholar internships per year starting in 2022.

The results of the trading session contributed to over 1747962 shares changing hands. Over the past one week, the price volatility of Hess Corporation stands at 2.65% while the volatility over the past one month is 3.03%.

The market cap for HES stock reached $25.91 billion, with 305.80 million shares outstanding and 276.12 million shares in the current float. Compared to the average trading volume of 2.04M shares, HES reached a trading volume of 1747962 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hess Corporation [HES]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HES shares is $96.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HES stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Tudor Pickering have made an estimate for Hess Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 27, 2021. While these analysts kept the previous recommendation, Mizuho raised their target price from $76 to $94. The new note on the price target was released on March 31, 2021, representing the official price target for Hess Corporation stock. Previously, the target price had yet another raise to $86.50, while Goldman analysts kept a Buy rating on HES stock.

The Average True Range (ATR) for Hess Corporation is set at 2.67, with the Price to Sales ratio for HES stock in the period of the last 12 months amounting to 4.97. The Price to Book ratio for the last quarter was 4.54, with the Price to Cash per share for the same quarter was set at 6.00. Price to Free Cash Flow for HES in the course of the last twelve months was 28.14 with Quick ratio for the last quarter at 2.00.

How has HES stock performed recently?

Hess Corporation [HES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.31. With this latest performance, HES shares dropped by -6.41% in over the last four-week period, additionally plugging by 47.40% over the last 6 months – not to mention a rise of 72.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HES stock in for the last two-week period is set at 42.52, with the RSI for the last a single of trading hit 35.96, and the three-weeks RSI is set at 47.00 for Hess Corporation [HES]. The present Moving Average for the last 50 days of trading for this stock 84.61, while it was recorded at 86.58 for the last single week of trading, and 62.82 for the last 200 days.

Hess Corporation [HES]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Hess Corporation [HES] shares currently have an operating margin of -20.92 and a Gross Margin at -12.91. Hess Corporation’s Net Margin is presently recorded at -75.07.

Return on Total Capital for HES is now -5.22, given the latest momentum, and Return on Invested Capital for the company is -20.07. Return on Equity for this stock declined to -43.88, with Return on Assets sitting at -15.24. When it comes to the capital structure of this company, Hess Corporation [HES] has a Total Debt to Total Equity ratio set at 169.12. Additionally, HES Total Debt to Total Capital is recorded at 62.84, with Total Debt to Total Assets ending up at 48.22. Long-Term Debt to Equity for the company is recorded at 167.42, with the Long-Term Debt to Total Capital now at 62.21.

Reflecting on the efficiency of the workforce at the company, Hess Corporation [HES] managed to generate an average of -$1,908,081 per employee. Receivables Turnover for the company is 4.06 with a Total Asset Turnover recorded at a value of 0.20.Hess Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.10.

Insider trade positions for Hess Corporation [HES]

There are presently around $21,496 million, or 86.20% of HES stock, in the hands of institutional investors. The top three institutional holders of HES stocks are: FMR LLC with ownership of 35,915,659, which is approximately 16.819% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 29,517,573 shares of the stock with an approximate value of $2.46 billion in HES stocks shares; and BLACKROCK INC., currently with $1.8 billion in HES stock with ownership of nearly 3.166% of the company’s market capitalization.

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Positions in Hess Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 207 institutional holders increased their position in Hess Corporation [NYSE:HES] by around 22,956,210 shares. Additionally, 241 investors decreased positions by around 16,173,711 shares, while 85 investors held positions by with 218,804,143 shares. The mentioned changes placed institutional holdings at 257,934,064 shares, according to the latest SEC report filing. HES stock had 66 new institutional investments in for a total of 2,480,660 shares, while 48 institutional investors sold positions of 1,453,357 shares during the same period.

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