Hess Corporation (NYSE: HES) stock fell -3.01% on Thursday to $129.11 against a previous-day closing price of $133.11. With 1.28 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.68 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $131.45 whereas the lowest price it dropped to was $127.97. The 52-week range on HES shows that it touched its highest point at $160.52 and its lowest point at $90.34 during that stretch. It currently has a 1-year price target of $162.19. With its current market cap of 39.51 billion, HES has annualized dividend of $1.75 while the current yield stands at 1.36%. Beta for the stock currently stands at 1.59.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HES was down-trending over the past week, with a drop of -3.01%, but this was down by -9.68% over a month. Three-month performance dropped to -7.08% while six-month performance fell -12.83%. The stock gained 9.67% in the past year, while it has lost -8.96% so far this year. A look at the trailing 12-month EPS for HES yields 6.55 with Next year EPS estimates of 8.92. For the next quarter, that number is 1.03. This implies an EPS growth rate of 274.60% for this year and 69.06% for next year. EPS is expected to grow by 7.95% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 20.30%.
Float and Shares Shorts:
At present, 305.40 million HES shares are outstanding with a float of 276.00 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.99 million, which was 1.30% higher than short shares on Mar 30, 2023. In addition to Mr. John B. Hess as the firm’s CEO & Director, Mr. John P. Rielly serves as its Exec. VP & CFO.
Through their ownership of 85.95% of HES’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.29% of HES, in contrast to 26.62% held by mutual funds. Shares owned by individuals account for 10.58%. As the largest shareholder in HES with 11.63% of the stake, Fidelity Management & Research Co holds 35,607,401 shares worth 35,607,401. A second-largest stockholder of HES, The Vanguard Group, Inc., holds 30,502,996 shares, controlling over 9.96% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in HES, holding 18,337,607 shares or 5.99% stake. With a 3.95% stake in HES, the RBC Global Resources Fund is the largest stakeholder. A total of 12,100,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.82% of HES stock, is the second-largest Mutual Fund holder. It holds 8,626,623 shares valued at 1.25 billion. SPDR Series – Energy Select Secto holds 2.53% of the stake in HES, owning 7,743,348 shares worth 1.12 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, HES reported revenue of $2.96B and operating income of $1.17B. The EBITDA in the recently reported quarter was $1.59B and diluted EPS was $2.15.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HES since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HES analysts setting a high price target of $205.00 and a low target of $139.00, the average target price over the next 12 months is $163.41. Based on these targets, HES could surge 58.78% to reach the target high and rise by 7.66% to reach the target low. Reaching the average price target will result in a growth of 26.57% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HES stock several times over the past three months with 25 Buys and 18 Sells. In these transactions, 376,073 shares were bought while 397,530 shares were sold. The number of buy transactions has increased to 41 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 822,329 while 1,001,972 shares were sold.