Hess Corporation [HES] stock for 1,502,696 USD was sold by Slentz Andrew P

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hess Corporation shares valued at $1,502,696 were sold by Slentz Andrew P on Sep 02. At $120.99 per share, Slentz Andrew P sold 12,420 shares. The insider’s holdings dropped to 29,327 shares worth approximately $3.36 million following the completion of this transaction.

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Also, Lynch Richard D. sold 15,389 shares, netting a total of over 1,899,659 in proceeds. Following the sale of shares at $123.44 each, the insider now holds 28,293 shares.

Before that, Schoonman Geurt G had sold 12,000 shares from its account. In a trade valued at $1,484,760, the Senior Vice President traded Hess Corporation shares for $123.73 each. Upon closing the transaction, the insider’s holdings decreased to 12,000 shares, worth approximately $3.02 million.

As published in a research note from Citigroup on June 24, 2022, Hess Corporation [HES] has been rated down from a Buy to a Neutral and the price target has been revised to $100 from $126. This represents a -14.4% premium over Thursday’s closing price. Analysts at Tudor Pickering started covering the stock with ‘”a Hold”‘ outlook in a report released in late May. As of March 31, 2021, Mizuho has increased its “Neutral” rating to a “Buy” for HES.

Analyzing HES’s Price Performance

On Thursday, Hess Corporation [NYSE: HES] plunged -2.16% to $114.40. The stock’s lowest price that day was $114.32, but it reached a high of $119.92 in the same session. During the last five days, there has been a drop of approximately -8.44%. Over the course of the year, Hess Corporation shares have jumped approximately 54.53%. 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 $113.44, while a 200-day SMA reached $103.58. Nevertheless, trading volume fell to 1.95 million shares from 1.33 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 112.51, which, if violated, would cause prices to drop to 110.61. In the upper region, resistance lies at 118.11. The next price resistance is at 121.81. RSI (Relative Strength Index) is 43.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.20, which suggests the price will decrease in the coming days. Percent R is at 99.50%, 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 steep in short interest on Aug 30, 2022 dropping by -0.36 million shares to 6.99 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 7.35 million shares. A decline of -5.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.02 of the overall float, the days-to-cover ratio (short ratio) decline to 5.02.

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

According to Fidelity Management & Research Co filings, the company currently owns 41,825,328 shares, which is about 13.51% of the total HES shares outstanding. The investor’s shares have appreciated by 881,596 from its previous 13-F filing of 40943732.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $3,687,453,378. SSgA Funds Management, Inc. reduced a -2.74% interest valued at $2.25 billion while BlackRock Fund Advisors purchased a 683,830 stake. A total of 83,555 shares of Hess Corporation were bought by PRIMECAP Management Co. during the quarter, and -834,203 were sold by Barrow, Hanley, Mewhinney & Strau. In its current portfolio, Massachusetts Financial Services holds 7,041,471 shares valued at $850.47 million.

In terms of Hess Corporation share price expectations, FactSet research, analysts set an average price target of $138.73 in the next 12 months, up nearly 18.88% from the previous closing price of $116.92. Analysts anticipate Hess Corporation stock to reach $175.00 by 2022, with the lowest price target being $105.00. In spite of this, 25 analysts ranked Hess Corporation stock as an Overweight at the end of 2022. On December 17, 2020, Evercore ISI assigned a price target of “an Outperform” to the stock and initiated coverage with a $70.


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