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HES

Hess Corp.

$43.09

-0.4 (-0.92%)

13:40
06/16/17
06/16
13:40
06/16/17
13:40

Hefty option block opened in Hess far downside puts

Hefty option block opened in Hess far downside puts. The stock off 32c to 52-week lows of $43.17 and 17K Aug 30s trade for 10c when bid-ask was 8 to 10c. 3.5K Jan 37.5 puts and 2.8K Aug 37.5 puts also changed hands. Total volume is 3X daily average at 26K puts and 3.6K calls. The company updated developments related to operations on the Liza Field located on the Stabroek Block offshore Guyana today. Earnings due late-July.

HES Hess Corp.
$43.09

-0.4 (-0.92%)

05/30/17
05/30/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ambarella (AMBA) downgraded to Sector Weight from Overweight at Pacific Crest with analyst Brad Erickson citing concern the company's largest customer DJI may have dual-sourced. After speaking with DJI customer service, Erickson believes Ambarella may not be the video processing provider for Spark, the $499 drone launched last week by DJI. 2. Buffalo Wild Wings (BWLD) downgraded to Underperform from Neutral at Wedbush with analyst Nick Setyan saying the upcoming proxy vote is irrelevant as neither management's strategy nor Marcato Capital's plan offer a viable solution to the company's ongoing deterioration in fundamentals. 3. Valero (VLO) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benny Wong citing refining headwinds and high exposure to RIN prices. 4. AutoZone (AZO) and O'Reilly Automotive (ORLY) were downgraded to Neutral from Outperform at Wedbush. 5. Whiting Petroleum (WLL) was downgraded to Sell from Neutral at Goldman Sachs, while Cimarex Energy (XEC) and Hess Corp. (HES) were downgraded to Neutral from Buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/17
GSCO
05/30/17
DOWNGRADE
Target $58
GSCO
Neutral
Hess Corp. downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brian Singer downgraded Hess Corp. to Neutral from Buy on valuation and cut its price target to $58 from $69 saying he prefers higher quality E&Ps that can deliver differentiated growth and returns in a long-term lower oil environment.
05/22/17
BOFA
05/22/17
NO CHANGE
Target $80
BOFA
Buy
Hess Corp. remains a top pick in E&P at BofA/Merrill
Bofa/Merrill analyst Doug Leggate said Hess Corp risk/reward looks attractive as shares are "discounting" below strip prices, but his base case assumes a gradual recovery above $60 by the end of the decade. The analyst said Hess remains a top idea and reiterated his Buy rating and $80 price target.
05/05/17
05/05/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Zynga (ZNGA) upgraded to Neutral from Underperform at BofA/Merrill with analyst Justin Post citing stronger engagement that is driving bookings growth. 2. Hess Corp. (HES) upgraded to Outperform from Market Perform at Wells Fargo citing what it sees as Hess' "growth potential, strong operating cost performance, balance sheet strength, exploration upside and current discounted valuation." Wells expects the company to grow at a compound annual rate of 4.9% through 2019. 3. CF Industries (CF) upgraded to Buy from Neutral at UBS with analyst John Roberts saying the stock is a top pick on the eventual agricultural recovery. Limited nitrogen capacity coming post 2017 and the dividend yield position the stock for upside, Roberts tells investors in a research note. The analyst keeps a $33 price target for the shares. 4. TreeHouse (THS) upgraded to Overweight from Equal Weight at Stephens. 5. Scripps Networks (SNI) upgraded to Overweight from Neutral at JPMorgan with analyst Alexia Quadrani citing the 10% pullback in the shares over the past month. The analyst notes Scripps offered "strong commentary" on ad revenue and is now included in Hulu Live. She keeps an $83 price target for the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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PRTS

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STE

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VTR

Ventas

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SMTC

Semtech

$34.85

-0.6 (-1.69%)

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IVZ

Invesco

$34.77

-0.24 (-0.69%)

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DHXM

DHX Media

$4.30

0.15 (3.61%)

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PODD

Insulet

$49.00

-1.22 (-2.43%)

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NFG

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OXY

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NBIX

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LPI

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$10.03

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MPWR

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TRS

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ORCL

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UNFI

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