Hess Corporation - price direction.
Analysts modified the earnings estimate for Hess Corporation (HES) on 2024-03-09.
Deviations from earnings estimates can signal potential risks or opportunities for investors and stakeholders, helping them manage their exposure to market fluctuations. Average EPS has been revised down from 1.57 to 1.45 by 12 analysts.
The average quarterly EPS is expected to be at 1.45 with the lower end expected at 1.06 and higher end at 1.87. This is an increase of about 0.283 from the EPS of 1.13 from a year ago. Also, the lower end of revenue is expected to be at 2363190000 and the higher band at 2997000000, with the average revenue expected to come in at 2780000000. This is an increase of about 0.133 from the revenue of 2453000000 from a year ago.
Typically, investors seek to act swiftly following such estimate increases to secure new positions at lower prices, anticipating positive outcomes.
HES's insiders engaged in stock market transactions since 12-12-2023.
Insider transactions offer a glimpse into management's outlook and sentiment regarding the company's financial health and growth trajectory.
There were no insider transactions on the buy side and average sale price of 146.35 As the earnings approach, insiders have been actively offloading shares, suggesting a potential negative earnings outcome and subsequent price movement.
As of 2024-03-09, there was a shift in the price projections for HES.
Through their meticulous research endeavors, analysts furnish investors with a diverse array of maximum and minimum price projections for different stocks, offering valuable benchmarks for investment decisions. Collating insights from 16 industry insiders, HES's future price is projected to range between 145.0 and 210.0, with the mean expectation hovering around 171.19.
Technical Summary
The current price of 144.88 finds support at 134.5 and resistance at 138.92.
The PSAR continues its bearish outlook and sets a level of resistance.
The Stochastic K-line is below the D-line and the K-line is below 20. This can be considered mildly bearish.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
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