Bearish Options Activity on Hess Corp. After Worse Fundamentals

 Bearish Options Activity on Hess Corp. After Worse Fundamentals

In today’s session Hess Corp. (HES) recorded an unusually high (2,250) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious HES decrease. With 2,250 contracts traded and 294 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: HES161118P00049500 closed last at: $1.36 or 13.4% down. About 863,548 shares traded hands. Hess Corp. (NYSE:HES) has declined 0.20% since March 29, 2016 and is downtrending. It has underperformed by 3.67% the S&P500.

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 23.70% above today’s ($49.16) stock price. Hess Corp. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. JP Morgan initiated it with “Neutral” rating and $58 target price in Wednesday, December 9 report. The rating was initiated by Morgan Stanley with “Equal-Weight” on Tuesday, January 12. Atlantic Securities upgraded it to “Overweight” rating and $63 target price in Tuesday, March 22 report. The rating was downgraded by Oppenheimer on Tuesday, November 17 to “Perform”. Credit Suisse downgraded Hess Corp. (NYSE:HES) rating on Thursday, April 28. Credit Suisse has “Neutral” rating and $65 price target. Zacks downgraded Hess Corp. (NYSE:HES) on Saturday, August 8 to “Buy” rating. The rating was upgraded by Societe Generale to “Buy” on Friday, July 31. The firm earned “Equal Weight” rating on Tuesday, January 12 by Barclays Capital. UBS downgraded the shares of HES in a report on Thursday, April 28 to “Neutral” rating. On Monday, September 12 the stock rating was initiated by KLR Group with “Accumulate”.

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 Q2 2016. 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.
First Republic Investment Mngmt has invested 0.01% of its portfolio in Hess Corp. (NYSE:HES). Mitsubishi Ufj And Banking Corp owns 596,387 shares or 0.08% of their US portfolio. Thompson Davis & accumulated 305 shares or 0.03% of the stock. Martin Currie Ltd holds 0.08% or 14,000 shares in its portfolio. Brown Brothers Harriman & Company holds 0% of its portfolio in Hess Corp. (NYSE:HES) for 1,946 shares. Public Sector Pension Invest Board has invested 0.03% of its portfolio in Hess Corp. (NYSE:HES). Ridgeworth Cap owns 85 shares or 0% of their US portfolio. Plante Moran Advisors Llc last reported 169 shares in the company. Loring Wolcott And Coolidge Fiduciary Llp Ma accumulated 100 shares or 0% of the stock. Focused Wealth Mngmt holds 0.03% of its portfolio in Hess Corp. (NYSE:HES) for 1,130 shares. Putnam Invests Ltd Liability Co, a Massachusetts-based fund reported 24,556 shares. Harvard Mngmt Communication has 0.1% invested in the company for 8,592 shares. Williams Jones & Assocs Lc holds 0% of its portfolio in Hess Corp. (NYSE:HES) for 637 shares. Cohen Klingenstein Limited Com reported 64,100 shares or 0.71% of all its holdings. Hsbc Plc holds 204,818 shares or 0.03% of its portfolio.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 2 sales for $948,370 net activity. Hill Gregory P. sold $839,850 worth of stock or 15,000 shares. 2,000 Hess Corp. (NYSE:HES) shares with value of $108,520 were sold by Truelove Brian D..

Hess Corporation is an exploration and production company. The company has a market cap of $15.53 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 recent Hess Corp. (NYSE:HES) news were published by: Upi.com which released: “Losses for Hess Corp. continue to grow” on October 26, 2016. Also Reuters.com published the news titled: “BRIEF-Hess Corp announces pricing of maximum tender offer” on October 03, 2016. Seekingalpha.com‘s news article titled: “Liza-3 Well Could Mean Big Gains Ahead For Hess Corp Shares” with publication date: October 06, 2016 was also an interesting one.

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