Hess Corporation (NYSE:HES) shares, rose in value, with the stock price up by 0.85% to the previous day’s close as strong demand from buyers drove the stock to $157.45.
Actively observing the price movement in the last trading, the stock closed the session at $156.12. The value of beta (5-year monthly) was 1.28 whereas the PE ratio was 35.05 over 12-month period. Referring to stock’s 52-week performance, its high was $167.75, and the low was $124.27. On the whole, HES has fluctuated by 10.09% over the past month.
With the market capitalization of Hess Corporation currently standing at about $48.36 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 1.75, with its dividend yield at 1.11%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.54, which is expected to increase to $2.63 for fiscal year $7.42 and then to about $10.08 by fiscal year 2025. Data indicates that the EPS growth is expected to be 46.90% in 2025, while the next year’s EPS growth is forecast to be 35.80%.
Analysts have estimated the company’s revenue for the quarter at $2.87 billion, with a low estimate of $2.62 billion and a high estimate of $3.08 billion. According to the average forecast, sales growth in current quarter could jump up 17.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $12.11 billion, representing an increase of 13.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that HES’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.41, with the price of HES currently trading nearly 4.60% and 6.85% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.75, while the 7-day volatility ratio is showing 1.60% which for the 30-day chart, stands at 1.49%. Furthermore, Hess Corporation (HES)’s beta value is 1.27, and its average true range (ATR) is 2.55.
A comparison of Hess Corporation (HES) with its peers suggests the former has fared considerably weaker in the market. HES showed an intraday change of 0.85% in last session, and over the past year, it grew by 11.73%%.
Data on historical trading for Hess Corporation (NYSE:HES) indicates that the trading volumes over the past 10 days have averaged 2.08 million and over the past 3 months, they’ve averaged 2.77 million. According to company’s latest data on outstanding shares, there are 307.16 million shares outstanding.
Nearly 9.69% of Hess Corporation’s shares belong to company insiders and institutional investors own 81.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.19 million shares as on Mar 15, 2024, resulting in a short ratio of 1.58. According to the data, the short interest in Hess Corporation (HES) stood at 1.69% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 6.1 million. The stock has risen by 9.22% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HES stock heading into the next quarter.
