Hess Corporation (HES) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Hess Corporation (NYSE:HES) by 10.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,669,202 shares of the oil and gas producer’s stock after buying an additional 247,551 shares during the period. Geode Capital Management LLC’s holdings in Hess Corporation were worth $128,502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its position in Hess Corporation by 73.9% in the first quarter. Great West Life Assurance Co. Can now owns 424,417 shares of the oil and gas producer’s stock valued at $20,508,000 after buying an additional 180,409 shares in the last quarter. Sei Investments Co. boosted its position in Hess Corporation by 7.5% in the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock valued at $6,270,000 after buying an additional 9,101 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Hess Corporation by 8.5% in the first quarter. Advisors Asset Management Inc. now owns 14,422 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 1,131 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in Hess Corporation by 6.6% in the first quarter. Xact Kapitalforvaltning AB now owns 21,238 shares of the oil and gas producer’s stock valued at $1,024,000 after buying an additional 1,310 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position in shares of Hess Corporation by 19.5% in the first quarter. Meadow Creek Investment Management LLC now owns 13,566 shares of the oil and gas producer’s stock valued at $654,000 after buying an additional 2,210 shares in the last quarter. 85.66% of the stock is currently owned by hedge funds and other institutional investors.

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

Hess Corporation (NYSE:HES) traded down 3.82% during mid-day trading on Tuesday, hitting $41.32. 5,096,707 shares of the company traded hands. The firm’s market capitalization is $12.97 billion. The firm has a 50 day moving average of $47.03 and a 200 day moving average of $52.22. Hess Corporation has a one year low of $40.02 and a one year high of $65.56.

Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.10) by $0.03. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.34 billion. Hess Corporation had a negative net margin of 116.02% and a negative return on equity of 7.15%. Hess Corporation’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.72) EPS. Equities research analysts expect that Hess Corporation will post ($3.62) earnings per share for the current fiscal year.

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

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Several research analysts have recently commented on HES shares. Goldman Sachs Group, Inc. (The) cut shares of Hess Corporation from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, March 1st. Evercore ISI cut shares of Hess Corporation to a “buy” rating in a report on Friday, March 3rd. Scotiabank reaffirmed a “buy” rating and set a $65.00 target price on shares of Hess Corporation in a report on Tuesday, March 14th. Wolfe Research raised shares of Hess Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, April 10th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $61.00 target price (down from $64.00) on shares of Hess Corporation in a report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Hess Corporation currently has an average rating of “Buy” and a consensus price target 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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