Citigroup reported on Friday that it has raised its price target for energy company, Hess Corp. (HES
).
The firm has increased its price target on HES to $82. This price target suggests a 12% upside from the stock’s current price of $71.60.
Analysts have raised their estimates based on the upcoming proxy vote. The firm believes that the stock will reach its price target if Elliott Management has its nominees elected onto the board.
Hess shares were mostly flat during premarket trading Friday. The stock has increased 23% in the past year.
The Bottom Line
Shares of Hess Corp. (HES) have a 0.56% yield, based on Thursday’s closing price of $71.79.
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.
