Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. Allegiant Travel Upgraded by Raymond James
Low-cost airline Allegiant Travel Company (ALGT ) saw its stock upgraded pre-market on Wednesday, with Raymond James confirming an Outperform rating and a new target price of $225. This comes after the travel provider announced new routes from Austin to Memphis and an increase in passenger baggage fees. Finishing Wednesday’s session at $203.73 (up 0.3%), Allegiant Travel’s adjusted dividend yield is 0.49%, with an annual payout of $1 (paid quarterly). The stock is 0.49% from its 52-week high.
2. Hess Corp. Upgraded by Credit Suisse
Hess Corp. (HES ), the oil and gas refining and marketing company, was upgraded on Wednesday, with Credit Suisse lifting their rating to Outperform and adding a new target price of $90. Set to report earnings on July 29, analysts are looking for a hint of possible capital raising in light of Q1 expenditure. Finishing Tuesday’s session at $59.18 (down 0.7%), Hess’ adjusted dividend yield is 1.69%, with an annual payout of $1 (paid quarterly). The stock is 43.37% from its 52-week high.
3. Noble Energy Upgraded by Credit Suisse
Oil and gas supplier Noble Energy (NBL ) saw its stock upgraded pre-market on Wednesday, with Credit Suisse shifting their rating to Outperform and adding a $55 price target. Noble confirmed recently that they had completed the $2.1 billion acquisition of Rosetta Resources, which would add 63 million barrels of production to their bottom line. Finishing Wednesday’s session at $36.85 (down 0.3%), Noble Energy’s adjusted dividend yield is 1.95%, with an annual payout of $0.72 (paid quarterly). The stock is 50.46% from its 52-week high.
4. Apollo Investment Corporation Downgraded by Barclays
Apollo Investment Corporation Liquid error: internal was downgraded pre-market on Wednesday, with Barclays confirming an Equal Weight rating and a new price target of $7. According to the company, earnings will be released on August 6, with analysts forecasting an EPS of 21 cents. Finishing Tuesday’s session at $7.11 (up 0.1%), Apollo’s adjusted dividend yield is 11.25%, with an annual payout of $0.80. The stock is 19.84% from its 52-week high.
5. Chesapeake Energy Downgraded by Credit Suisse
Independent oil and gas company Chesapeake Energy (CHK ) saw its stock downgraded to Neutral by Credit Suisse on Wednesday. No price target was supplied. Finishing Monday’s session at $9.29 (down 9.5%), Chesapeake’s adjusted dividend yield is 3.77%, with an annual payout of $0.35. The stock is 66.32% from its 52-week high.
