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Wall Street analysts upgraded quite a few stocks on Thursday including Progressive Corp, Hess Corp and Valero Energy Corporation. Stocktwits data suggests retail’s reaction was mixed, so let’s see how traders and investors reacted.1. Progressive Corp: Keefe Bruyette has upgraded the insurance firm’s stock to ‘Outperform’ from ‘Market Perform’ while raising the price target to $245 from $210. The analyst stated that normalizing expense ratios point to accelerating growth that should push the shares higher in the coming months. Retail sentiment on Stocktwits remained in extremely bullish territory (79/100) supported by huge message volumes following the upgrade. Shares of the firm were trading over 2.60% higher in early trading on Thursday.<figure class="image"><img style="aspect-ratio:799/209;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_18_at_11_27_43_AM_5f14a1cb83.png" alt="Retail sentiment trends in extremely bullish territory for Progressive Corp" width="799" height="209"><figcaption>Retail sentiment trends in extremely bullish territory for Progressive Corp</figcaption></figure> 2. Hess Corp: Bernstein has upgraded the stock to ‘Outperform’ from ‘Market Perform’ while increasing its price target to $172 from $166. Last year, Chevron Corporation had announced it will acquire all of the outstanding shares of Hess in an all-stock transaction where Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. In May this year, Hess shareholders had approved the transaction.The Bernstein analyst reportedly noted that with the merger math of Hess shareholders receiving 1.025 shares of Chevron, a successful close will yield 16% upside in Hess whereas a failure to close the merger would not "doom" Hess shares. Despite the upgrade, retail sentiment dipped from bullish to neutral (47/100) on Stocktwits.3. Valero Energy Corporation: Mizuho has upgraded the fuel producer to ‘Outperform' from ‘Neutral’ while raising the price target to $175 from $165. According to Mizuho, Valero offers higher exposure to U.S. coastal markets, complexity to modify crude diet, low secondary product and higher gasoline yields. Notably, Stocktwits sentiment has fallen to bullish (63/100) from extremely bullish a day ago. On Thursday, shares of the firm were trading marginally in the red. Valero shares have performed well this year, having returned over 14% on a year-to-date basis. In the first quarter, the firm had beaten Street estimates on profits led by strong demand and narrowing supplies.<figure class="image"><img style="aspect-ratio:805/224;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_18_at_11_30_23_AM_2dcde9e40b.png" alt="Retail sentiment trends in bullish territory for Valero Energy Corporation" width="805" height="224"><figcaption>Retail sentiment trends in bullish territory for Valero Energy Corporation</figcaption></figure> &nbsp;

Here’s How Retail Investors Responded To Analyst Upgrades In PGR, HES, And VLO

While retail investors displayed enthusiasm for Progressive Corp upgrade, the Stocktwits sentiment meter suggested a lackluster response toward Hess Corp and Valero. 

Equity

Critical Insights From Hess Analyst Ratings: What You Need To Know

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 DateFirmActionFromTo Mar 2022Wells FargoMaintainsOverweight Jan 2022Credit SuisseMaintainsNeutral Jan 2022Morgan StanleyMaintainsOverweight
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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas. The Midstream segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.

Volume	1.17M
52-Wk High	$167.75
52-Wk Low	$131.61

HES Hess Corporation

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