Behind the Scenes of Hess's Latest Options Trends

Investors with significant funds have taken a bearish position in Hess HES, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HES usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 11 options transactions for Hess. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 36% being bullish and 63% bearish. Of all the options we discovered, 10 are puts, valued at $468,564, and there was a single call, worth $69,600.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $145.0 for Hess over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Hess's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Hess's whale trades within a strike price range from $70.0 to $145.0 in the last 30 days.

Hess Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Hess

Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.

After a thorough review of the options trading surrounding Hess, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Hess

• Trading volume stands at 4,349,060, with HES's price up by 1.25%, positioned at $141.3.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 55 days.

Expert Opinions on Hess

2 market experts have recently issued ratings for this stock, with a consensus target price of $168.5.

• An analyst from Argus Research upgraded its action to Buy with a price target of $171.
• An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $166.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Hess with Benzinga Pro for real-time alerts.