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 $2,103,130 were sold by Schoonman Geurt G on Mar 20 ’24. At $151.08 per share, Schoonman Geurt G sold 13,921 shares. The insider’s holdings dropped to 33,581 shares worth approximately $5.1 million following the completion of this transaction.
Also, Slentz Andrew P sold 20,254 shares, netting a total of over 3,060,074 in proceeds. Following the sale of shares at $151.08 each, the insider now holds 43,788 shares.
Before that, Hill Gregory P. had sold 4,708 shares from its account. In a trade valued at $680,400, the COO and President, E&P traded Hess Corporation shares for $144.52 each. Upon closing the transaction, the insider’s holdings decreased to 4,708 shares, worth approximately $19.07 million.
As published in a research note from Argus on November 07, 2023, Hess Corporation [HES] has been rated up from a Hold to a Buy and the price target has been revised to $171. Analysts at Bernstein downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early November. As of April 19, 2023, UBS has initiated its “Buy” rating for HES. Earlier on January 27, 2023, Goldman downgraded its rating. Their new recommendation was “a Neutral” for HES stock which previously was a “a Buy”.
Analyzing HES Stock Performance
During the last five days, there has been a drop of approximately -3.72%. Over the course of the year, Hess Corporation shares have jumped approximately 5.29%. Shares of the company reached a 52-week high of $159.24 on 04/12/24 and a 52-week low of $135.64 on 01/18/24. A 50-day SMA is recorded $149.52, while a 200-day SMA reached $148.04. Nevertheless, trading volume fell to 1.0 million shares from 1.28 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 150.82, which, if violated, would cause prices to drop to 149.85. In the upper region, resistance lies at 152.47. The next price resistance is at 153.15. RSI (Relative Strength Index) is 49.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.73, which suggests the price will decrease in the coming days. Percent R is at 77.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
