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Potential Price Increase for Hess Corporation (HES) After Recent Insider Activity

Hess Corporation’s filing revealed that its Senior Vice President Schoonman Geurt G unloaded Company’s shares for reported $2.1 million on Mar 20 ’24. In the deal valued at $151.08 per share,13,921 shares were sold. As a result of this transaction, Schoonman Geurt G now holds 33,581 shares worth roughly $4.93 million.

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Then, Slentz Andrew P sold 20,254 shares, generating $3,060,074 in total proceeds. Upon selling the shares at $151.08, the Senior Vice President now owns 43,788 shares.

Before that, Hill Gregory P. sold 4,708 shares. Hess Corporation shares valued at $680,400 were divested by the COO and President, E&P at a price of $144.52 per share. As a result of the transaction, Hill Gregory P. now holds 125,670 shares, worth roughly $18.46 million.

Argus upgraded its Hess Corporation [HES] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in early November from “an Outperform” to “a Mkt perform”. UBS began covering HES with “Buy” recommendation on April 19, 2023. Goldman revised its rating on January 27, 2023. It rated HES as “a Neutral” which previously was an “a Buy”.

Price Performance Review of HES

On Friday, Hess Corporation [NYSE:HES] saw its stock fall -1.55% to $146.88. Over the last five days, the stock has lost -0.45%. Hess Corporation shares have risen nearly 1.89% since the year began. Nevertheless, the stocks have risen 9.25% over the past one year. While a 52-week high of $167.75 was reached on 04/29/24, a 52-week low of $129.12 was recorded on 01/18/24. SMA at 50 days reached $152.33, while 200 days put it at $148.66. A total of 1.04 million shares were traded, compared to the trading of 0.62 million shares in the previous session.

Levels Of Support And Resistance For HES Stock

The 24-hour chart illustrates a support level at 145.60, which if violated will result in even more drops to 144.33. On the upside, there is a resistance level at 148.76. A further resistance level may holdings at 150.65. The Relative Strength Index (RSI) on the 14-day chart is 44.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.24, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 45.01%. Stochastics%K at 72.35% indicates the stock is a holding.

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