Paradigm Asset Management Co. LLC raised its position in Hess Corporation (NYSE:HES) by 12.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 86,680 shares of the oil and gas producer’s stock after buying an additional 9,300 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Hess Corporation were worth $3,803,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of HES. Welch & Forbes LLC boosted its stake in Hess Corporation by 1.0% in the second quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock worth $205,000 after buying an additional 46 shares during the last quarter. Bollard Group LLC raised its position in shares of Hess Corporation by 0.6% in the second quarter. Bollard Group LLC now owns 10,462 shares of the oil and gas producer’s stock worth $459,000 after buying an additional 62 shares during the period. Conning Inc. raised its position in shares of Hess Corporation by 1.3% in the second quarter. Conning Inc. now owns 7,687 shares of the oil and gas producer’s stock worth $337,000 after buying an additional 99 shares during the period. Cleararc Capital Inc. raised its position in shares of Hess Corporation by 1.7% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the oil and gas producer’s stock worth $318,000 after buying an additional 113 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Hess Corporation by 0.8% in the first quarter. Nordea Investment Management AB now owns 17,748 shares of the oil and gas producer’s stock worth $856,000 after buying an additional 148 shares during the period. 86.32% of the stock is owned by hedge funds and other institutional investors.
Hess Corporation (NYSE:HES) traded down 0.42% during trading on Friday, hitting $38.20. The company’s stock had a trading volume of 174,318 shares. The company has a 50-day moving average of $42.31 and a 200 day moving average of $46.46. Hess Corporation has a one year low of $37.55 and a one year high of $65.56. The firm’s market cap is $12.01 billion.
Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.14. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.10) earnings per share. On average, equities analysts forecast that Hess Corporation will post ($4.79) earnings per share for the current year.
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A number of equities analysts recently issued reports on the company. BMO Capital Markets set a $55.00 target price on Hess Corporation and gave the stock a “hold” rating in a research note on Saturday, June 17th. Scotiabank set a $50.00 target price on Hess Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub upgraded Hess Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 1st. Cowen and Company restated a “hold” rating and issued a $50.00 target price on shares of Hess Corporation in a research note on Tuesday. Finally, KLR Group restated a “buy” rating and issued a $60.00 target price (up previously from $58.00) on shares of Hess Corporation in a research note on Saturday, April 29th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Hess Corporation currently has a consensus rating of “Hold” and a consensus target price 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 shares were sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.80% of the company’s stock.
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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