A Closer Look at Hess's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
The options market for Hess (NYSE:HES) shows a bearish sentiment with 81% of investors holding bearish expectations. The trading activity focuses on a price range between $130.0 and $150.0. The largest trades observed were all bearish call options with strike prices at $140.00. Hess, an independent oil and gas producer, reported net proved reserves of 1.3 billion barrels and an average production of 344 thousand barrels per day in 2022. The stock's current price is $146.36, with a neutral RSI and its next earnings report due in 49 days. Analysts from Susquehanna and Mizuho maintain a neutral rating on Hess, with target prices of $156 and $200, respectively.
March 06, 2024 | 5:45 pm
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NEUTRAL IMPACT
Hess's options market is bearish, with significant activity in the $130-$150 range. Despite this, analysts have neutral ratings with optimistic target prices.
The bearish sentiment in the options market suggests short-term concerns among traders, possibly due to market conditions or Hess's specific outlook. However, the neutral analyst ratings with higher target prices indicate a belief in the company's longer-term value. This divergence might lead to short-term volatility but does not necessarily predict a long-term downward trend.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90