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Hess Upgraded to “Buy” at Deutsche Bank (HES)
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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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