Wealth Enhancement Advisory Services LLC bought a new position in shares of Hess Corporation (NYSE:HES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,857 shares of the oil and gas producer’s stock, valued at approximately $758,000.
Other large investors also recently bought and sold shares of the company. Bollard Group LLC raised its stake in Hess Corporation by 0.5% in the first quarter. Bollard Group LLC now owns 10,400 shares of the oil and gas producer’s stock worth $501,000 after buying an additional 56 shares during the period. Cleararc Capital Inc. raised its stake in 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. Nordea Investment Management AB raised its stake in 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. Pacer Advisors Inc. raised its stake in Hess Corporation by 3.2% in the first quarter. Pacer Advisors Inc. now owns 5,971 shares of the oil and gas producer’s stock worth $288,000 after buying an additional 187 shares during the period. Finally, Assetmark Inc. raised its stake in Hess Corporation by 3.2% in the first quarter. Assetmark Inc. now owns 7,640 shares of the oil and gas producer’s stock worth $368,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 86.32% of the company’s stock.
Shares of Hess Corporation (NYSE:HES) opened at 38.45 on Friday. The company has a 50 day moving average price of $42.91 and a 200 day moving average price of $46.90. Hess Corporation has a one year low of $37.55 and a one year high of $65.56. The company’s market cap is $12.09 billion.
Hess Corporation (NYSE:HES) last announced 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. The business had revenue of $1.23 billion during 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 firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.10) earnings per share. Equities research analysts expect that Hess Corporation will post ($4.79) earnings per share for the current year.
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HES has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $55.00 price target on shares of Hess Corporation in a report on Monday, May 15th. Wells Fargo & Company raised Hess Corporation from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $46.13 to $45.84 in a report on Friday, May 5th. They noted that the move was a valuation call. Cowen and Company set a $55.00 price target on Hess Corporation and gave the company a “hold” rating in a report on Monday, July 10th. Citigroup Inc. reduced their price target on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Finally, Capital One Financial Corporation downgraded Hess Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $65.00 to $50.00 in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Hess Corporation 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 business’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 11.80% of the stock is owned by insiders.
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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