Oil and energy company Hess Corp. (HES) was upgraded on Monday by analysts at Deutsche Bank.
The analysts upgraded Hess from “Hold” to “Buy” with a price target of $70. That target is a +27.2% upside to Friday’s closing price of $55.02
Deutsche Bank believes that HES is in a good position to see growth because of higher WTI oil prices and operational upside.
Hess shares were flat in premarket trading on Monday. The stock is down -2.48% over the past year.
The Bottom Line
Shares of Hess Corp (HES) have a .73% dividend yield, based on Friday’s closing stock price of $55.02. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $58-$60 price levels.
Hess Corp. (HES) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
FREE Dividend Stock Newsletter
Get the Dividend.com email newsletter to receive:
- A free copy of our acclaimed report, 5 Rules of Winning Dividend Stock Investing
- Free daily investing tips and picks from Dividend.com CEO Paul Rubillo
- Tons of great market analysis and recommendations