On Thursday JP Morgan reported that it has upgraded energy company Hess Corp. (HES
).
The firm raised its rating on Hess from “Neutral” to “Overweight,” and gave the company a $84 price target. This price target suggests an 18% increase from the stock’s current price of $68.73.
Analysts have upgraded the stock to reflect the company’s asset sale program, which may add value in coming quarters.
Hess shares were up $1.27, or 1.85% during premarket trading Thursday. The stock is up 30% YTD.
The Bottom Line
Shares of Hess Corp. (HES) have a 0.58% yield, based on Wednesday’s closing price of $68.73.
Hess Corp. (HES) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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.