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


Hess Corporation’s filing revealed that its Chief Executive Officer HESS JOHN B unloaded Company’s shares for reported $15.27 million on Feb 02. In the deal valued at $139.29 per share,109,649 shares were sold. As a result of this transaction, HESS JOHN B now holds 120,310 shares worth roughly $ 16.72 million.

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Then, HESS JOHN B sold 109,649 shares, generating $15,251,079 in total proceeds. Upon selling the shares at $139.09, the Chief Executive Officer now owns 789,103 shares.

Before that, Goodell Timothy B. sold 27,413 shares. Hess Corporation shares valued at $3,831,789 were divested by the EVP, Gen. Counsel & Secretary at a price of $139.78 per share. As a result of the transaction, Goodell Timothy B. now holds 137,803 shares, worth roughly $19.15 million.

Goldman downgraded its Hess Corporation [HES] rating to a Neutral from a a Buy in a research note published On Friday, January 27, 2023; the price target was increased to $170 from $161. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in mid January from “a Peer perform” to “an Outperform”. Mizuho also remained covering HES and has decreased its forecast on January 10, 2023 with a “Neutral” recommendation from previously “Buy” rating. Jefferies started covering the stock on October 19, 2022. It rated HES as “a Hold”.

Price Performance Review of HES

On Friday, Hess Corporation [NYSE:HES] saw its stock jump 2.32% to $138.95. Over the last five days, the stock has lost -3.35%. Hess Corporation shares have fallen nearly -2.02% since the year began. Nevertheless, the stocks have risen 47.91% over the past one year. While a 52-week high of $160.52 was reached on 01/26/23, a 52-week low of $89.80 was recorded on 01/04/23. SMA at 50 days reached $143.55, while 200 days put it at $126.54. A total of 1.83 million shares were traded, compared to the trading of 1.33 million shares in the previous session.

Levels Of Support And Resistance For HES Stock

The 24-hour chart illustrates a support level at 135.39, which if violated will result in even more drops to 131.83. On the upside, there is a resistance level at 140.81. A further resistance level may holdings at 142.66. The Relative Strength Index (RSI) on the 14-day chart is 44.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.19%. Stochastics %K at 22.35% indicates the stock is a holding.

How much short interest is there in Hess Corporation?

A steep rise in short interest was recorded in Hess Corporation stocks on Jan 30, 2023, dropping by -0.66 million shares to a total of 4.67 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 5.33 million shares. There was a decline of -14.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.74.

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

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 39,585,839 shares, or roughly 12.84% of the outstanding HES shares. In other words, the investor’s shares have fallen by -1,563,938 from its previous 13-F filing of 41149777.0. Additionally, The Vanguard Group, Inc. decreased -0.18% of its stake after which the total value it holdings stand at $4,532,636,511, while SSgA Funds Management, Inc. reduced -1.12% of its stake to hold $2.79 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 211,649 shares of Hess Corporation, while Capital Research & Management Co bought 2,965,209 shares. At present, T. Rowe Price Associates, Inc. is holding 9,480,828 shares valued at $1.42 billion. PRIMECAP Management Co. owned 8,426,725 shares of the company at the time of its most recent 13F filing, worth $1.27 billion.


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