Korea Investment CORP raised its stake in shares of Hess Corporation (NYSE:HES) by 142.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,645 shares of the oil and gas producer’s stock after buying an additional 1,552 shares during the period. Korea Investment CORP’s holdings in Hess Corporation were worth $116,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of HES. Janney Montgomery Scott LLC raised its position in Hess Corporation by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 23,342 shares of the oil and gas producer’s stock valued at $1,125,000 after buying an additional 1,980 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Hess Corporation by 19.5% in the first quarter. Glen Harbor Capital Management LLC now owns 8,778 shares of the oil and gas producer’s stock valued at $423,000 after buying an additional 1,430 shares during the last quarter. ProShare Advisors LLC raised its position in Hess Corporation by 1.0% in the first quarter. ProShare Advisors LLC now owns 45,852 shares of the oil and gas producer’s stock valued at $2,211,000 after buying an additional 467 shares during the last quarter. Guinness Asset Management Ltd raised its position in Hess Corporation by 24.9% in the first quarter. Guinness Asset Management Ltd now owns 239,502 shares of the oil and gas producer’s stock valued at $11,546,000 after buying an additional 47,700 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Hess Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,600 shares of the oil and gas producer’s stock valued at $343,000 after buying an additional 294 shares during the last quarter. 86.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hess Corporation (NYSE:HES) opened at 39.29 on Thursday. Hess Corporation has a 52 week low of $39.16 and a 52 week high of $65.56. The company’s 50-day moving average price is $43.15 and its 200 day moving average price is $47.07. The company’s market cap is $12.35 billion.
Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.32) by $0.14. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted ($1.10) EPS. Hess Corporation’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Hess Corporation will post ($4.77) EPS for the current fiscal year.
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Several research analysts recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and set a $55.00 price target on shares of Hess Corporation in a research report on Monday, May 15th. KLR Group reaffirmed a “buy” rating and issued a $60.00 target price (up from $58.00) on shares of Hess Corporation in a research report on Saturday, April 29th. Scotiabank set a $53.00 target price on Hess Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Goldman Sachs Group, Inc. (The) lowered Hess Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $69.00 to $58.00 in a research report on Tuesday, May 30th. Finally, ValuEngine raised Hess Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.06.
In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by corporate insiders.
Hess Corporation Company 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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