Hess Corporation [HES] stock Downgrade by Citigroup analyst, price target now $100

Hess Corporation [NYSE: HES] surged by $3.47 during the normal trading session on Thursday and reaching a high of $130.77 during the day while it closed the day at $130.38. The company report on October 3, 2022 that Hess Schedules Earnings Release Conference Call.

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Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, October 26, 2022 at 10 a.m. Eastern Time to discuss its third quarter 2022 earnings release.

To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only).

Hess Corporation stock has also gained 19.46% of its value over the past 7 days. However, HES stock has inclined by 30.15% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.02% and gained 76.12% year-on date.

The market cap for HES stock reached $40.42 billion, with 309.70 million shares outstanding and 277.85 million shares in the current float. Compared to the average trading volume of 1.85M shares, HES reached a trading volume of 3002177 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $139.67 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 2.30. 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.

Citigroup have made an estimate for Hess Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 24, 2022. While these analysts kept the previous recommendation, Tudor Pickering raised their target price to Hold. The new note on the price target was released on May 27, 2021, representing the official price target for Hess Corporation stock. Previously, the target price had yet another raise from $76 to $94, while Mizuho kept a Buy rating on HES stock.

The Average True Range (ATR) for Hess Corporation is set at 5.58, with the Price to Sales ratio for HES stock in the period of the last 12 months amounting to 4.36. The Price to Book ratio for the last quarter was 5.66, with the Price to Cash per share for the same quarter was set at 6.96. Price to Free Cash Flow for HES in the course of the last twelve months was 17.91 with Quick ratio for the last quarter at 1.60.

HES stock trade performance evaluation

Hess Corporation [HES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.46. With this latest performance, HES shares gained by 10.53% in over the last four-week period, additionally plugging by 22.02% over the last 6 months – not to mention a rise of 57.31% 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 65.03, with the RSI for the last a single of trading hit 71.67, and the three-weeks RSI is set at 61.49 for Hess Corporation [HES]. The present Moving Average for the last 50 days of trading for this stock 115.64, while it was recorded at 121.43 for the last single week of trading, and 105.40 for the last 200 days.

Hess Corporation [HES]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Hess Corporation [HES] shares currently have an operating margin of +29.43 and a Gross Margin at +33.84. Hess Corporation’s Net Margin is presently recorded at +7.24.

Return on Equity for this stock inclined to 9.58, with Return on Assets sitting at 2.84.

Hess Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for Hess Corporation [HES] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hess Corporation go to 68.57%.

Hess Corporation [HES]: Insider Ownership positions

There are presently around $35,285 million, or 89.30% of HES stock, in the hands of institutional investors. The top three institutional holders of HES stocks are: FMR LLC with ownership of 46,686,508, which is approximately 0.496% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 31,631,330 shares of the stock with an approximate value of $4.12 billion in HES stocks shares; and BLACKROCK INC., currently with $3.58 billion in HES stock with ownership of nearly 4.974% of the company’s market capitalization.

Positions in Hess Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 329 institutional holders increased their position in Hess Corporation [NYSE:HES] by around 22,936,966 shares. Additionally, 272 investors decreased positions by around 14,225,227 shares, while 102 investors held positions by with 233,470,824 shares. The mentioned changes placed institutional holdings at 270,633,017 shares, according to the latest SEC report filing. HES stock had 79 new institutional investments in for a total of 3,045,675 shares, while 75 institutional investors sold positions of 2,937,306 shares during the same period.


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