Hermes Investment Management Ltd. boosted its stake in shares of Hess Corporation (NYSE:HES) by 57.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,730,153 shares of the oil and gas producer’s stock after acquiring an additional 627,795 shares during the period. Hess Corporation accounts for about 1.2% of Hermes Investment Management Ltd.’s portfolio, making the stock its 16th biggest position. Hermes Investment Management Ltd. owned about 0.55% of Hess Corporation worth $81,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of HES. D Orazio & Associates Inc. increased its stake in 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 during the period. Oppenheimer Asset Management Inc. increased its stake in Hess Corporation by 7.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 167 shares during the period. Korea Investment CORP increased its stake in 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 during the period. Lenox Wealth Advisors Inc. bought a new position in Hess Corporation during the 2nd quarter worth $132,000. Finally, Advisor Group Inc. increased its stake in Hess Corporation by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 362 shares during the period. Hedge funds and other institutional investors own 86.72% of the company’s stock.
Hess Corporation (NYSE HES) traded down 0.04% during midday trading on Friday, hitting $45.03. The company had a trading volume of 2,950,506 shares. The firm’s market capitalization is $14.16 billion. The firm’s 50 day moving average is $43.77 and its 200-day moving average is $44.58. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56.
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 the Zacks’ consensus estimate of ($1.32) by ($0.14). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.10) EPS. On average, equities research analysts expect that Hess Corporation will post ($4.77) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. Hess Corporation’s dividend payout ratio is presently -5.18%.
A number of equities analysts have commented on the company. Barclays PLC restated an “equal weight” rating and set a $50.00 price objective (down previously from $61.00) on shares of Hess Corporation in a research note on Wednesday, July 12th. J P Morgan Chase & Co lowered Hess Corporation from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $45.00 in a research note on Thursday, September 14th. BMO Capital Markets restated a “hold” rating and set a $42.00 price objective on shares of Hess Corporation in a research note on Friday, September 1st. Citigroup Inc. lowered their price objective on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Finally, Cowen and Company set a $50.00 price objective on Hess Corporation and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $51.72.
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In related news, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $42.53, for a total value of $255,180.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here. In the last three months, insiders sold 21,599 shares of company stock worth $873,466. 11.80% of the stock is owned by insiders.
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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