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Hess Added to Bank of America/Merrill Lynch’s US1 List; Sees 96% Upside (HES)

By Dividend.com,  July 03, 2012, 08:57:28 AM EDT

Oil producer Hess Corp. ( HES ) on Tuesday caught some bullish commentary from analysts at Bank of America/Merrill Lynch.

The firm said it added HES to its prestigious "US1″ list with an $85 price target, suggesting an almost unbelievably-high 96% upside to the stock's Monday closing price of $43.46.

Bank of America/Merrill Lynch justified the extremely bullish view by lauding the company's improved execution and production visibility.

Hess shares rose 54 cents, or +1.2%, in premarket trading Tuesday.

The Bottom Line
Hess Corp. currently offers a 0.92% dividend yield, based on last night's closing price of $43.46 and the company's annualized dividend payout of 40 cents per share.

Hess Corp. ( HES ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: HES



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