UBS Asset Management Americas Inc. lifted its holdings in shares of Hess Corporation (NYSE:HES) by 24.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,968,188 shares of the oil and gas producer’s stock after acquiring an additional 580,842 shares during the period. UBS Asset Management Americas Inc. owned 0.93% of Hess Corporation worth $130,214,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Independence Advisors LLC acquired a new stake in shares of Hess Corporation during the 2nd quarter worth about $230,000. D Orazio & Associates Inc. raised its position in shares of Hess Corporation by 266.7% during the 1st quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Hess Corporation during the 1st quarter worth about $111,000. Korea Investment CORP raised its position in shares of Hess Corporation by 142.0% during the 2nd quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. acquired a new stake in shares of Hess Corporation during the 2nd quarter worth about $132,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.53, for a total value of $255,180.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,599 shares of company stock worth $873,466. 11.80% of the stock is currently owned by company insiders.
Hess Corporation (NYSE HES) traded up 0.84% on Wednesday, reaching $43.09. The company’s stock had a trading volume of 564,514 shares. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The firm’s 50 day moving average price is $40.72 and its 200-day moving average price is $44.97. The company’s market capitalization is $13.55 billion.
Hess Corporation (NYSE:HES) last released its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned ($1.10) EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Hess Corporation will post ($4.80) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, September 15th. Hess Corporation’s dividend payout ratio is presently -5.18%.
HES has been the topic of several research analyst reports. Scotiabank set a $53.00 target price on Hess Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Piper Jaffray Companies set a $47.00 target price on Hess Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Barclays PLC reissued an “equal weight” rating and set a $50.00 target price (down previously from $61.00) on shares of Hess Corporation in a research report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating on shares of Hess Corporation in a research report on Saturday. Finally, BMO Capital Markets set a $55.00 target price on Hess Corporation and gave the stock a “hold” rating in a research report on Saturday, June 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.13.
About Hess Corporation
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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