ING Groep NV decreased its position in Hess Corp. (NYSE:HES) by 43.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,782 shares of the company’s stock after selling 2,852 shares during the period. ING Groep NV’s holdings in Hess Corp. were worth $227,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in Hess Corp. by 40.2% in the first quarter. Wellington Management Group LLP now owns 17,658,755 shares of the company’s stock worth $929,733,000 after buying an additional 5,067,194 shares during the last quarter. American Century Companies Inc. acquired a new position in Hess Corp. during the second quarter worth $80,777,000. State Street Corp raised its position in Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock worth $719,757,000 after buying an additional 1,216,695 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Hess Corp. by 86.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,243,700 shares of the company’s stock worth $118,131,000 after buying an additional 1,040,700 shares during the last quarter. Finally, Elliott Management Corp raised its position in Hess Corp. by 5.6% in the first quarter. Elliott Management Corp now owns 18,800,000 shares of the company’s stock worth $989,820,000 after buying an additional 1,000,000 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.
Shares of Hess Corp. (NYSE:HES) traded up 0.35% during midday trading on Friday, hitting $51.70. 3,858,916 shares of the company’s stock were exchanged. The stock’s market cap is $16.19 billion. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08. The stock’s 50 day moving average is $50.96 and its 200-day moving average is $55.44.
Hess Corp. (NYSE:HES) last released its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative net margin of 56.22% and a negative return on equity of 7.16%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company earned ($0.52) earnings per share. The company’s quarterly revenue was down 34.4% on a year-over-year basis. Analysts predict that Hess Corp. will post ($4.87) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a $0.25 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. Hess Corp.’s dividend payout ratio is presently -9.60%.
HES has been the topic of a number of recent research reports. Wolfe Research lowered shares of Hess Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, September 12th. Barclays PLC restated an “equal weight” rating and set a $64.00 price target on shares of Hess Corp. in a research report on Monday. Zacks Investment Research upgraded shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Friday, July 29th. Nomura restated a “hold” rating and set a $56.00 price target on shares of Hess Corp. in a research report on Monday, October 3rd. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $85.00 target price on shares of Hess Corp. in a report on Monday, August 22nd. One equities 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 company’s stock. Hess Corp. currently has an average rating of “Hold” and a consensus price target of $61.09.
In related 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 value of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.83% of the stock is currently owned by corporate insiders.
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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