An Analysis of Hess Corporation (HES)’s Potential Price Growth


Hess Corporation’s filing revealed that its COO and President, E&P Hill Gregory P. unloaded Company’s shares for reported $7.72 million on Nov 01. In the deal valued at $143.45 per share,53,851 shares were sold. As a result of this transaction, Hill Gregory P. now holds 78,434 shares worth roughly $ 11.49 million.

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Then, Slentz Andrew P sold 12,420 shares, generating $1,502,696 in total proceeds. Upon selling the shares at $120.99, the Senior Vice President now owns 29,327 shares.

Before that, Lynch Richard D. sold 15,389 shares. Hess Corporation shares valued at $1,899,659 were divested by the Senior Vice President at a price of $123.44 per share. As a result of the transaction, Lynch Richard D. now holds 28,293 shares, worth roughly $4.15 million.

Jefferies initiated its Hess Corporation [HES] rating to a Hold in a research note published on Friday, October 19, 2022; the price target was $140. PT values the company’s stock at a premium of -4.66 to its Friday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in late June from “a Buy” to “a Neutral”. Tudor Pickering began covering HES with “Hold” recommendation on May 27, 2021. Mizuho revised its rating on March 31, 2021. It rated HES as “a Buy” which previously was an “a Neutral”.

Price Performance Review of HES

On Friday, Hess Corporation [NYSE:HES] saw its stock jump 3.12% to $146.53. On the same session, the stock had its day’s lowest price of $142.07, but rose to a high of $146.96. Over the last five days, the stock has gained 4.31%. Hess Corporation shares have risen nearly 97.93% since the year began. Nevertheless, the stocks have risen 78.41% over the past one year. While a 52-week high of $147.52 was reached on 10/27/22, a 52-week low of $68.32 was recorded on 01/03/22. SMA at 50 days reached $124.97, while 200 days put it at $110.82. A total of 2.87 million shares were traded, compared to the trading of 3.15 million shares in the previous session.

Levels Of Support And Resistance For HES Stock

The 24-hour chart illustrates a support level at 143.41, which if violated will result in even more drops to 140.30. On the upside, there is a resistance level at 148.30. A further resistance level may holdings at 150.08. The Relative Strength Index (RSI) on the 14-day chart is 69.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.12, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.16%. Stochastics %K at 81.54% indicates the stock is a selling.

How much short interest is there in Hess Corporation?

A steep rise in short interest was recorded in Hess Corporation stocks on Jul 14, 2022, dropping by -2.47 million shares to a total of 6.23 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 8.7 million shares. There was a decline of -39.65%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.99% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.11.

Hess Corporation [HES] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 41,825,328 shares, or roughly 13.51% of the outstanding HES shares. In other words, the investor’s shares have risen by 881,596 from its previous 13-F filing of 40943732.0. Additionally, The Vanguard Group, Inc. increased 2.19% of its stake after which the total value it holdings stand at $3,327,500,776, while SSgA Funds Management, Inc. reduced -2.74% of its stake to hold $2.03 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 683,830 shares of Hess Corporation, while PRIMECAP Management Co. bought 83,555 shares. At present, Barrow, Hanley, Mewhinney & Strau is holding 7,870,489 shares valued at $857.8 million. Massachusetts Financial Services owned 7,041,471 shares of the company at the time of its most recent 13F filing, worth $767.45 million.

According to FactSet, Hess Corporation’s share price will average $145.32 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.1 percent from its previous closing price of $142.10. Analysts expect Hess Corporation stock to reach the higher price of $175.00, while the lowest price estimate is $119.00. However, 26 analysts have rated HES stock as an Overweight in their predictions for 2022.


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