Hess Corporation (HES) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Hess Corporation (HES), headquartered in New York City, is a leading exploration and production company in the energy sector. Founded in 1919 and incorporated in 1920, Hess focuses on the exploration, development, production, transportation, and sale of crude oil, natural gas liquids (NGLs), and natural gas. The company operates primarily in the United States, with significant activities in international markets, particularly in Guyana and Southeast Asia. Hess is structured into two primary segments: Exploration and Production, along with Midstream services, which encompass the gathering and processing of natural gas and NGLs, as well as water handling services in regions such as the Bakken Shale. With a robust total revenue of $12.08 billion, Hess Corporation maintains a strong financial position in the competitive Oil & Gas Exploration & Production industry.
Stock Performance Statistics
As of the latest data, Hess Corporation’s stock price is currently at $134.40, reflecting the company’s market dynamics. The target high price for HES is set at $194.00, suggesting substantial upside potential for investors, while the target mean price of $161.77 offers a balanced growth expectation. The current price sits between a fifty-two week low of $123.79 and high of $167.75, which indicates resilience within varying market conditions. The fifty-day moving average is recorded at $138.37, placing the current stock price slightly below this average. Investors are advised to adopt a cautious approach, with a recommendation to hold their current positions in the stock. The target low price is identified at $144.00, indicating a manageable downside potential. Analyst opinions offer a mean recommendation score of 2.6, derived from 13 evaluations, emphasizing a continued watch on market influences and performance before making further investment decisions.
Market Sentiment and Short Interest
Hess Corporation currently has 308,115,008 shares outstanding, with a short interest of 5,716,889 shares, translating to a short percentage of 0.0232% of the float. This low short interest signifies limited bearish sentiment among investors, implying overall confidence in the company’s prospects. Investors are encouraged to monitor these indicators closely to gauge market sentiment towards Hess. The shares available for trading, constituting a float of 283,923,674, offer insight into the stock’s liquidity and trading behavior. As Hess continues to navigate an evolving energy market, investors should stay informed about its operational performance and broader industry trends to optimize their investment strategies.
| Metric | Value |
|---|---|
| Market Cap | $41.4b |
| Total Debt | $9.9b |
| Total Cash | $2.0b |
| Shares Outstanding | 308.1m |
| Float Shares | 283.9m |
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