Sunday, June 26, 2022

A company insider recently sold 36,260 shares of Hess Corporation [HES]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Hess Corporation shares valued at $4,651,947 were sold by Lowery-Yilmaz Barbara J on Jun 09. At $128.29 per share, Lowery-Yilmaz Barbara J sold 36,260 shares. The insider’s holdings dropped to 95,624 shares worth approximately $9.88 million following the completion of this transaction.

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Also, Hill Gregory P. sold 13,771 shares, netting a total of over 1,462,908 in proceeds. Following the sale of shares at $106.23 each, the insider now holds 101,635 shares.

Before that, Schoonman Geurt G had sold 6,885 shares from its account. In a trade valued at $745,232, the Senior Vice President traded Hess Corporation shares for $108.24 each. Upon closing the transaction, the insider’s holdings decreased to 6,885 shares, worth approximately $3.97 million.

As published in their initiating research note from Tudor Pickering on May 27, 2021, Hess Corporation [HES] has been a Hold and the price target has been revised to $93. This represents a -11.12% premium over Wednesday’s closing price. Analysts at Mizuho upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late March. Earlier on December 17, 2020, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for HES stock.

Analyzing HES’s Price Performance

On Wednesday, Hess Corporation [NYSE: HES] plunged -4.08% to $103.34. The stock’s lowest price that day was $100.36, but it reached a high of $104.52 in the same session. During the last five days, there has been a drop of approximately -13.93%. Over the course of the year, Hess Corporation shares have jumped approximately 39.59%. Shares of the company reached a 52-week high of $131.43 on 06/08/22 and a 52-week low of $73.63 on 01/03/22. A 50-day SMA is recorded $114.46, while a 200-day SMA reached $93.74. Nevertheless, trading volume fell to 3.75 million shares from 3.28 million shares the previous day.

Support And Resistance Levels for Hess Corporation (HES)

According to the 24-hour chart, there is a support level at 100.96, which, if violated, would cause prices to drop to 98.58. In the upper region, resistance lies at 105.12. The next price resistance is at 106.90. RSI (Relative Strength Index) is 34.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -15.03, which suggests the price will decrease in the coming days. Percent R is at 90.41%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Hess Corporation subject to short interest?

Stocks of Hess Corporation saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.41 million shares to 5.92 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.51 million shares. A jump of 6.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.85 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.85.

Which companies own the most shares of Hess Corporation (HES)?

According to Fidelity Management & Research Co filings, the company currently owns 40,943,732 shares, which is about 13.15% of the total HES shares outstanding. The investor’s shares have appreciated by 5,652,917 from its previous 13-F filing of 35290815.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $3,676,850,642. SSgA Funds Management, Inc. acquire a 2.51% interest valued at $2.36 billion while BlackRock Fund Advisors purchased a 388,929 stake. A total of -199,220 shares of Hess Corporation were bought by PRIMECAP Management Co. during the quarter, and -890,757 were sold by Barrow, Hanley, Mewhinney & Strau. In its current portfolio, Union Investment Privatfonds GmbH holds 5,381,919 shares valued at $662.35 million.

In terms of Hess Corporation share price expectations, FactSet research, analysts set an average price target of $140.64 in the next 12 months, up nearly 26.69% from the previous closing price of $107.74. Analysts anticipate Hess Corporation stock to reach $180.00 by 2022, with the lowest price target being $110.00. In spite of this, 25 analysts ranked Hess Corporation stock as an Overweight at the end of 2022.

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