Hess Corp. (HES) is Initiated by KLR Group to Accumulate, Price Target at $65

Hess Corp. (HES) was Initiated by KLR Group to “Accumulate” and the brokerage firm has set the Price Target at $65. KLR Group advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on Hess Corp.. KLR Group Initiated Hess Corp. on Sep 12, 2016 to “Accumulate”, Price Target of the shares are set at $65.

On the company’s financial health, Hess Corp. reported $-1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-1.24. The company had revenue of $1269.00 million for the quarter, compared to analysts expectations of $1012.50 million. The company’s revenue was down -34.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.52 EPS.

Hess Corp. closed down -0.42 points or -0.82% at $50.81 with 7,258,376 shares getting traded on Wednesday. Post opening the session at $51.56, the shares hit an intraday low of $50.21 and an intraday high of $51.65 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Aug 9, 2016, Gregory P. Hill (COO and President, E&P) sold 15,000 shares at $55.99 per share price. According to the SEC, on Aug 8, 2016, Brian D. Truelove (Senior Vice President) sold 2,000 shares at $54.26 per share price. On Mar 8, 2016, John P Rielly (Senior Vice President and CFO) sold 5,707 shares at $49.28 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s crude oil and natural gas liquids production and 7% of its natural gas production were from European operations. Approximately 22% of the Company’s crude oil and natural gas liquids production were from its African operations. Approximately 1% of the Company’s crude oil and natural gas liquids production and 61% of its natural gas production were from its Asian and Other operations.

Hess Corp.

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