Investec Asset Management LTD lifted its position in shares of Hess Corporation (NYSE:HES) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,360,823 shares of the oil and gas producer’s stock after buying an additional 25,279 shares during the quarter. Investec Asset Management LTD owned approximately 0.74% of Hess Corporation worth $103,569,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. grew its position in shares of Hess Corporation by 0.3% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 235,633 shares of the oil and gas producer’s stock worth $10,337,000 after buying an additional 772 shares in the last quarter. Sei Investments Co. grew its position in shares of Hess Corporation by 7.5% during the 1st quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock worth $6,270,000 after buying an additional 9,101 shares in the last quarter. Swiss National Bank grew its position in shares of Hess Corporation by 2.8% during the 2nd quarter. Swiss National Bank now owns 1,037,865 shares of the oil and gas producer’s stock worth $45,531,000 after buying an additional 28,200 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Hess Corporation during the 1st quarter worth $268,000. Finally, Cornerstone Capital Management Holdings LLC. grew its position in shares of Hess Corporation by 4.4% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 97,344 shares of the oil and gas producer’s stock worth $4,692,000 after buying an additional 4,124 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.
Hess Corporation (NYSE:HES) traded up 0.40% during midday trading on Friday, reaching $42.17. The company’s stock had a trading volume of 4,526,085 shares. Hess Corporation has a 1-year low of $37.25 and a 1-year high of $65.56. The stock’s 50-day moving average price is $40.84 and its 200 day moving average price is $45.19. The firm’s market capitalization is $13.26 billion.
Hess Corporation (NYSE:HES) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.14). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) earnings per share. Equities analysts anticipate that Hess Corporation will post ($4.80) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Hess Corporation’s dividend payout ratio is currently -5.18%.
A number of research firms have recently issued reports on HES. BMO Capital Markets set a $55.00 price target on Hess Corporation and gave the stock a “hold” rating in a research report on Saturday, June 17th. Scotiabank set a $50.00 price target on Hess Corporation and gave the stock a “buy” rating in a research report on Saturday, July 1st. Wolfe Research downgraded Hess Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Cowen and Company set a $55.00 price target on Hess Corporation and gave the stock a “hold” rating in a research report on Monday, July 10th. Finally, Atlantic Securities downgraded Hess Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $45.00 in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Hess Corporation has a consensus rating of “Hold” and a consensus price target of $52.13.
In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The disclosure for this sale can be found here. Corporate insiders own 11.80% of the company’s stock.
Hess Corporation Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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