Price Target Update on Hess Corporation (NYSE:HES)

Hess Corporation (NYSE:HES) : The highest short term price target forecast on Hess Corporation (NYSE:HES) is $75 and the lowest target price is $57. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $65.25 with a standard deviation of $6.43.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Tigress Financial downgrades its outlook on Hess Corporation (NYSE:HES). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Buy. The rating by the firm was issued on May 3, 2016.

Hess Corporation (NYSE:HES): stock turned positive on Thursday. Though the stock opened at $58.73, the bulls momentum made the stock top out at $59.79 level for the day. The stock recorded a low of $58.33 and closed the trading day at $59.77, in the green by 3.02%. The total traded volume for the day was 2,501,445. The stock had closed at $58.02 in the previous days trading.

The company shares have dropped -14.71% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $69.44 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $58.28 and the 200 Day Moving Average price is recorded at $50.83. On the companys insider trading activities, Truelove Brian D., officer (Senior Vice President) of Hess Corp, unloaded 3,000 shares at an average price of $50.1 on March 28, 2016. The total amount of the transaction was worth $150,300, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Hess Corporation (Hess) is an exploration and production (E&P) company that develops, produces, purchases, transports and sells crude oil and natural gas. Its production operations are located primarily in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia and Norway. The Companys production in the United States was from offshore properties in the Gulf of Mexico and onshore properties in the Bakken oil shale play in the Williston Basin of North Dakota, the Permian Basin of Texas, and the Utica Basin of Ohio. Approximately 16% of the Companys crude oil and natural gas liquids production and 7% of its natural gas production were from European operations. Approximately 22% of the Companys crude oil and natural gas liquids production were from its African operations. Approximately 1% of the Companys crude oil and natural gas liquids production and 61% of its natural gas production were from its Asian and Other operations.

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