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Hess Corp. (NYSE: HES) has seen its stock trade lower by 11 percent since the start of 2018 and 22 percent in the past two weeks alone, which prompted Credit Suisse to exclaim "enough is enough" in an upgrade note. The Analyst Credit Suisse's William Featherston upgraded Hess from Underperform to Neutral with an unchanged $42 price target. The Thesis Hess' stock has fallen over the past few weeks due to a combination of company-specific news including a lower than expected production guidance for 2018 and a general selloff in oil prices and stocks, Featherston said. The stock's valuation now appears to be "fair" and the analyst's negative thesis has largely played out, including the Street revising their 2018 production estimates lower as they were too high. In fact, there are now three potential catalysts to support Hess' stock ahead, including: - Exploration results in Guyana and success in tests could increase the 3.2 BBoe of gross resource discovered to date;
- Activist investor Elliott Management could push the company to pursue shareholder friendly measures; and
- Better than expected production with Enchilada platform is expected to be restored in June.
Price Action Shares of Hess were trading higher by more than 4 percent Monday. Related Links: Digesting Delivering Alpha 2017: The Top Picks You Need To Know Among The Market's Movers And Shakers, Who's Bullish And Who's Bearish For 2018? Latest Ratings for HES Date | Firm | Action | From | To | Feb 2018 | Credit Suisse | Upgrades | Underperform | Neutral | Feb 2018 | BMO Capital | Maintains | Market Perform | Market Perform | Jan 2018 | Morgan Stanley | Maintains | Equal-Weight | Equal-Weight |
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hess Corp. is a and oil exploration company based in United states of america. Hess Corp. is listed in Germany and in United States of America. Its market capitalisation is US$ 47.9 billions as of today (€ 41.9 billions). Its stock quote reached its lowest recent point on November 17, 1989 at US$ 10.06, and its highest recent level on March 28, 2024 at US$ 151.95. Hess Corp. has 315 053 615 shares outstanding. |