Cambridge Investment Research Advisors Inc. Has $603,000 Position in Hess Corporation (HES)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Hess Corporation (NYSE:HES) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 12,515 shares of the oil and gas producer’s stock after selling 576 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Hess Corporation were worth $603,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Hess Corporation during the first quarter valued at $114,000. Financial Architects Inc boosted its stake in Hess Corporation by 147.6% in the first quarter. Financial Architects Inc now owns 2,600 shares of the oil and gas producer’s stock valued at $125,000 after buying an additional 1,550 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Hess Corporation by 47.7% in the fourth quarter. Federated Investors Inc. PA now owns 2,577 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 832 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in Hess Corporation during the first quarter valued at $188,000. Finally, FTB Advisors Inc. boosted its stake in Hess Corporation by 11.4% in the first quarter. FTB Advisors Inc. now owns 4,077 shares of the oil and gas producer’s stock valued at $197,000 after buying an additional 416 shares during the last quarter. 85.66% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Hess Corporation (NYSE:HES)

Shares of Hess Corporation (NYSE:HES) traded down 4.21% during mid-day trading on Tuesday, hitting $41.15. The stock had a trading volume of 5,016,784 shares. The company’s 50 day moving average is $47.03 and its 200-day moving average is $52.22. The stock’s market cap is $12.92 billion. Hess Corporation has a 52-week low of $40.02 and a 52-week high of $65.56.

Hess Corporation (NYSE:HES) last released its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.10) by $0.03. Hess Corporation had a negative net margin of 116.02% and a negative return on equity of 7.15%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned ($1.72) earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, equities research analysts anticipate that Hess Corporation will post ($3.62) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. Hess Corporation’s dividend payout ratio is presently -5.23%.

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HES has been the topic of several research reports. Scotiabank set a $53.00 price objective on Hess Corporation and gave the company a “buy” rating in a research report on Tuesday, May 16th. Evercore ISI cut Hess Corporation to a “buy” rating in a research report on Friday, March 3rd. Goldman Sachs Group, Inc. (The) cut Hess Corporation from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, March 1st. KLR Group reaffirmed a “buy” rating and set a $60.00 price objective (up from $58.00) on shares of Hess Corporation in a research report on Saturday, April 29th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 price objective on shares of Hess Corporation in a research report on Friday, April 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.82.

Hess Corporation Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HES”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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