Hess Corporation (NYSE:HES) sank as low as $55.36 Wednesday before getting settled at $56. The 1.56 percent increase called for market cap to move at $17.22B. The price went up as high as $55.36 before retreating. Trading activity significantly weakened as the volume at ready counter decreased to 3,735,758 shares versus 4,212,265 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,914,683 shares. The stock is now 57.35% above against its bear-market low of $35.59 on December 26, 2018. It has retreated -33.59% since it’s 52-week high of $74.81 reached in October. Now the market price is up 26.87% on the year and up 38.27% YTD.
HES’s 50 day simple moving average (SMA 50) price is $50.09 and its 200-day simple moving average (SMA 200) price is $60.07. The company’s stock currently has a total float of 283.69M shares. Its weekly volatility is hovering around 3.64% and felt 3.12% volatility in price over a month. On the upside, the share price will test short term resistance at around $57.32. On a downside, the stock is likely to find some support, which begins at $55.02. The failure to get near-term support could push it to $54.04.
Separately, it has been reported that multiple insider activity took place at Hess Corporation (HES). Senior Vice President Lynch Richard D. sold 17,843 shares for $13,219 in transaction occurred on 2019/02/07. After making this transaction, the Senior Vice President owns a direct stake of 964,236 shares, worth $740,264, as per the last closing price. On 2019/02/07 Slentz Andrew P, Senior Vice President at HES, dumped 2,684 shares at an average price of $53.4 per share. The selling total is valued at $1,288,616.
Senior Vice President, Lowery-Yilmaz Barbara J had divested 2,353 shares for $60,098 through a trade on 2019/02/07. Following this activity, the insider holds 125,650 shares worth $3,365,488 as of recent close. Wall Street’s most bullish Hess Corporation (NYSE:HES) analysts are predicting the share price to blow past $87 per share during the next 12 months. The current median share price forecast by them is $63.75, suggesting that the stock could increase 13.84% in that time frame. The average price target of $63.2 calls for a nearly 12.86% increase in the stock price.
It had seen a negative analyst call from Stephens, which downgraded the stock from Overweight to Equal-Weight on January 29. Analysts at Stephens, started covering the stock on December 06 with a Overweight rating. Analysts at MKM Partners, made their first call about the stock on December 06, recommending it is Buy. Barclays analysts came out with bullish views on October 30 when the call was made. They think the stock is now Equal Weight compared to to their prior call for Underweight.
Moreover, it trades for 56.8 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.71x price/book and 2.68x price/sales. Compared to others, Hess Corporation is in a different league with regards to profitability, having net margins of -55.7%. To put some perspective around this, the industry’s average net margin is 4.82%. HES’s ROE is -34.7%, which is also considerably worse than the industry’s ROE of 8.6%. It’s also very liquid in the near term, with a current ratio of 2.3. The stock has a debt/capital of 0.69.
Shares of Hess Corporation (HES) have gained 6.3% since the company’s last earnings report. Over the past 12 fiscal quarters, Hess Corporation (NYSE:HES) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 2 quarters (16%), whereas at 0 occasion EPS met analyst expectations. HES last reported earnings on January 30, 2019 when it released Dec-18 results that exceeded expectations. The company raked in -$0.31 per share, -98.7% change on the same period last year. That was better than consensus for -$0.41. Revenue for the recent quarter stood at $1.68 billion, up 3% on last year and above the $1.49 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.28 billion to $1.56 billion, which should be compared with $1.33 billion generated last year. EPS is seen in a range of -$0.73 to -$0.05, against the -$0.3 reported a year ago.