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Hess Corporation (HES) Is Becoming Less Appealing To Investors After A 0.11% Rise

Hess Corporation (NYSE:HES) has a beta value of 1.58 and has seen 0.8 million shares traded in the recent trading session. The company, currently valued at $47.15B, closed the recent trade at $154.04 per share which meant it gained $0.16 on the day or 0.11% during that session. The HES stock price is -1.91% off its 52-week high price of $156.98 and 44.49% above the 52-week low of $85.50. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.61 million shares traded. The 3-month trading volume is 1.81 million shares.

The consensus among analysts is that Hess Corporation (HES) is an Overweight stock at the moment, with a recommendation rating of 2.30. 2 analysts rate the stock as a Sell, while 4 rate it as Overweight. 10 out of 27 have rated it as a Hold, with 11 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.63.

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Hess Corporation (NYSE:HES) trade information

Sporting 0.11% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the HES stock price touched $154.04 or saw a rise of 2.41%. Year-to-date, Hess Corporation shares have moved 8.50%, while the 5-day performance has seen it change 1.47%. Over the past 30 days, the shares of Hess Corporation (NYSE:HES) have changed 9.69%. Short interest in the company has seen 5.33 million shares shorted with days to cover at 3.48.

Wall Street analysts have a consensus price target for the stock at $158.91, which means that the shares’ value could jump 3.06% from the levels at last check today. The projected low price target is $125.00 while the price target rests at a high of $185.00. In that case, then, we find that the latest price level in today’s session is -20.1% off the targeted high while a plunge would see the stock lose 18.85% from the levels at last check today.

Hess Corporation (HES) estimates and forecasts

Figures show that Hess Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 44.73% over the past 6 months, with this year growth rate of 220.09%, compared to -3.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 91.80% and 40.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 37.70%.

12 analysts offering their estimates for the company have set an average revenue estimate of $2.57 billion for the current quarter. 11 have an estimated revenue figure of $2.52 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $2.25 billion and $2.37 billion respectively for this quarter and the next, and analysts expect sales will grow by 14.00% for the current quarter and 6.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 15.90% over the past 5 years. Earnings growth for 2023 is a modest 117.80% while over the next 5 years, the company’s earnings are expected to increase by 78.10%.

HES Dividends

Hess Corporation is expected to release its next earnings report on January 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.50 at a share yield of 0.97%. The company’s dividend yield has gone up over the past 12 months.

Hess Corporation (NYSE:HES)’s Major holders

Insiders own 10.29% of the company shares, while shares held by institutions stand at 88.53% with a share float percentage of 98.69%. Investors are also buoyed by the number of investors in a company, with Hess Corporation having a total of 961 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 45.95 million shares worth more than $7.19 billion. As of Sep 29, 2022, FMR, LLC held 14.90% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 31.35 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $4.91 billion and represent 10.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. As of Sep 29, 2022, the former fund manager holds about 2.70% shares in the company for having 8.31 million shares of worth $1.3 billion while later fund manager owns 8.03 million shares of worth $1.26 billion as of Dec 30, 2022, which makes it owner of about 2.60% of company’s outstanding stock.

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