What’s Propelling Hess Corp. to Increase So Much?

 What's Propelling Hess Corp. to Increase So Much?

In today’s session Hess Corp. (HES) registered an unusually high (2,203) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious HES increase. With 2,203 contracts traded and 3924 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: HES161021C00054000 closed last at: $0.21 or 25% down. About 654,588 shares traded hands. Hess Corp. (NYSE:HES) has risen 1.30% since March 15, 2016 and is uptrending. It has underperformed by 4.19% the S&P500.

Analysts await Hess Corp. (NYSE:HES) to report earnings on October, 26. They expect $-1.06 earnings per share, down 2.91% or $0.03 from last year’s $-1.03 per share. After $-1.11 actual earnings per share reported by Hess Corp. for the previous quarter, Wall Street now forecasts -4.50% EPS growth.

Hess Corp. (NYSE:HES) Ratings Coverage

Out of 15 analysts covering Hess Corp. (NYSE:HES), 6 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 40% are positive. $90 is the highest target while $38 is the lowest. The $60.81 average target is 18.75% above today’s ($51.21) stock price. Hess Corp. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Tuesday, March 22, the company rating was upgraded by Atlantic Securities. Citigroup downgraded Hess Corp. (NYSE:HES) on Tuesday, January 5 to “Neutral” rating. As per Tuesday, January 12, the company rating was maintained by Barclays Capital. The stock has “Buy” rating given by Credit Agricole on Tuesday, December 15. The rating was maintained by Citigroup with “Neutral” on Thursday, April 7. Societe Generale upgraded the stock to “Buy” rating in Friday, July 31 report. The stock has “Equal-Weight” rating given by Morgan Stanley on Tuesday, January 12. The rating was downgraded by UBS to “Neutral” on Thursday, April 28. The stock of Hess Corp. (NYSE:HES) earned “Buy” rating by Zacks on Saturday, August 8. JP Morgan maintained Hess Corp. (NYSE:HES) rating on Monday, January 25. JP Morgan has “Neutral” rating and $38 price target.

According to Zacks Investment Research, “New York-based Hess Corporation, previously known as Amerada Hess Corporation, is a global exploration and production company that develops, produces, purchases, transports and sells crude oil and natural gas. The company’s E&P activities are concentrated in Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Russia, Thailand, the United Kingdom and the United States. As of year-end 2014, Hess’ proved reserves tally stood at 1.43 billion oil-equivalent barrels. In 2013, Hess sold its gas stations and exited the refining business to operate as a pure play E&P.”

Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.33, from 1.39 in 2016Q1. The ratio worsened, as 47 funds sold all Hess Corp. shares owned while 184 reduced positions. 64 funds bought stakes while 181 increased positions. They now own 240.51 million shares or 0.38% more from 239.60 million shares in 2016Q1.
Royal London Asset Management Limited holds 0.09% or 91,383 shares in its portfolio. Mizuho Usa Incorporated last reported 0.33% of its portfolio in the stock. Norinchukin Bank The has 13,827 shares for 0.02% of their US portfolio. Blue Bell Private Wealth Mgmt Limited Liability owns 700 shares or 0.03% of their US portfolio. Retirement Systems Of Alabama reported 134,389 shares or 0.05% of all its holdings. Tudor Invest Et Al, a Connecticut-based fund reported 10,115 shares. The Connecticut-based Massmutual Trust Fsb Adv has invested 0% in Hess Corp. (NYSE:HES). Blackrock Mgmt Lc, a New Jersey-based fund reported 2.44 million shares. Cleararc Capital, a Ohio-based fund reported 6,389 shares. Guardian Life Ins Of America last reported 0% of its portfolio in the stock. Putnam Limited Liability Co has invested 0% of its portfolio in Hess Corp. (NYSE:HES). Moreover, Prospector Prtnrs Limited Liability Corporation has 0.96% invested in Hess Corp. (NYSE:HES) for 93,800 shares. Levin Capital Strategies L P holds 1.27% or 1.18 million shares in its portfolio. Raymond James Fincl Svcs Advsr last reported 18,988 shares in the company. Somerville Kurt F reported 7,090 shares or 0.1% of all its holdings.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 2 sales for $948,370 net activity. On Friday, August 5 the insider Truelove Brian D. sold $108,520. 15,000 shares with value of $839,850 were sold by Hill Gregory P. on Monday, August 8.

Hess Corporation is an exploration and production company. The company has a market cap of $15.94 billion. The Firm is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. It currently has negative earnings. The Company’s divisions include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including natural gas and crude oil gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading natural gas and crude oil liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.

HES Company Profile

Hess Corporation (Hess), incorporated on February 7, 1920, is an exploration and production (E&P) company. The Firm is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. The Company’s divisions include E&P and Bakken Midstream. The Company’s E&P segment is engaged in the sale of crude oil, natural gas liquids and natural gas. The Bakken Midstream segment provides services, including natural gas and crude oil gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading natural gas and crude oil liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota. The Firm has production activities located in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand (JDA), Malaysia and Norway.

More important recent Hess Corp. (NYSE:HES) news were published by: Seekingalpha.com which released: “Liza-3 Well Could Mean Big Gains Ahead For Hess Corp Shares” on October 06, 2016, also Blogs.Wsj.com published article titled: “Hess Continues Cloud Push to Prepare for Internet of Things”, Reuters.com published: “BRIEF-Hess Corp announces pricing of maximum tender offer” on October 03, 2016. More interesting news about Hess Corp. (NYSE:HES) was released by: Reuters.com and their article: “BRIEF-Hess Corp announces pricing of offer to purchase notes due in 2019” with publication date: September 23, 2016.

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