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Downgrade Alert for Hess (HES)

By James Quinn

Hess (NYSE:HES) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $59.18 on volume of 7.0 million shares, above average daily volume of 4.5 million.

There is potential upside of 17.1% for shares of Hess based on a current price of $59.18 and an average consensus analyst price target of $69.32. Hess shares have support at the 200-day moving average (MA) of $52.82 and additional support at the 50-day MA of $51.62.

Hess share prices have moved between a 52-week high of $78.87 and a 52-week low of $32.41 and closed yesterday at 83% above that low price at $59.18 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has remained constant.

Hess Corporation is a global integrated energy company. The Company explores for, produces, markets, and refines crude oil and natural gas. The Company operates in countries that include Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Peru, Russia, Thailand, the United Kingdom and the United States.

SmarTrend recommended that subscribers consider buying shares of Hess on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.52. Since that recommendation, shares of Hess have risen 51.2%. We continue to monitor HES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Hess

Ticker(s): HES