Principal Financial Group Inc. boosted its position in shares of Hess Corp. (NYSE:HES) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 414,440 shares of the company’s stock after buying an additional 17,039 shares during the period. Principal Financial Group Inc. owned about 0.13% of Hess Corp. worth $24,908,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Exane Derivatives increased its position in shares of Hess Corp. by 23.5% in the second quarter. Exane Derivatives now owns 2,333 shares of the company’s stock worth $140,000 after buying an additional 444 shares during the period. Ropes Wealth Advisors LLC boosted its stake in shares of Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock worth $207,000 after buying an additional 55 shares in the last quarter. Brandes Investment Partners LP bought a new stake in shares of Hess Corp. during the second quarter worth $208,000. Murphy Capital Management Inc. bought a new stake in shares of Hess Corp. during the second quarter worth $213,000. Finally, Private Capital Advisors Inc. bought a new stake in shares of Hess Corp. during the second quarter worth $216,000. Hedge funds and other institutional investors own 82.92% of the company’s stock.
Hess Corp. (NYSE:HES) traded down 0.23% during midday trading on Wednesday, hitting $46.70. The stock had a trading volume of 599,676 shares. The company’s 50 day moving average is $52.38 and its 200 day moving average is $55.47. The company’s market cap is $14.63 billion. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08.
Hess Corp. (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.14. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The business earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted ($0.52) earnings per share. Hess Corp.’s quarterly revenue was down 34.4% on a year-over-year basis. On average, equities analysts anticipate that Hess Corp. will post ($5.02) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.00 annualized dividend and a yield of 2.14%. Hess Corp.’s dividend payout ratio (DPR) is presently -9.60%.
A number of brokerages have weighed in on HES. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of Hess Corp. in a research report on Wednesday, June 8th. Bank of America Corp. reaffirmed a “buy” rating and issued a $85.00 price target on shares of Hess Corp. in a research report on Monday, August 22nd. Zacks Investment Research cut Hess Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Simmons boosted their price target on Hess Corp. from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $66.00 price target on shares of Hess Corp. in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Hess Corp. has a consensus rating of “Hold” and an average target price of $60.61.
In other Hess Corp. news, COO Gregory P. Hill sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $55.99, for a total transaction of $839,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.83% of the company’s stock.
About Hess Corp.
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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