Peloton Wealth Strategists continued to hold its stake in Hess Corporation (NYSE:HES) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,800 shares of the oil and gas producer’s stock at the end of the second quarter. Peloton Wealth Strategists’ holdings in Hess Corporation were worth $518,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in HES. State of Alaska Department of Revenue acquired a new position in shares of Hess Corporation during the first quarter valued at approximately $114,000. Canada Pension Plan Investment Board raised its holdings in shares of Hess Corporation by 37.9% during the first quarter. Canada Pension Plan Investment Board now owns 97,510 shares of the oil and gas producer’s stock valued at $4,701,000 after acquiring an additional 26,800 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Hess Corporation by 44.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,357 shares of the oil and gas producer’s stock valued at $451,000 after acquiring an additional 2,892 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Hess Corporation by 8.5% during 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 acquiring an additional 1,131 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Hess Corporation by 6.8% during the first quarter. Daiwa Securities Group Inc. now owns 7,850 shares of the oil and gas producer’s stock valued at $378,000 after acquiring an additional 500 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.
In related news, COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. 11.80% of the stock is owned by insiders.
Hess Corporation (NYSE:HES) traded up 1.1283% on Tuesday, hitting $41.3817. The stock had a trading volume of 932,361 shares. The firm’s market cap is $13.01 billion. The company’s 50-day moving average price is $41.10 and its 200 day moving average price is $45.42. Hess Corporation has a one year low of $37.25 and a one year high of $65.56.
Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.14). Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned ($1.10) earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Hess Corporation will post ($4.83) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Hess Corporation’s dividend payout ratio is presently -5.18%.
A number of equities analysts have commented on HES shares. BMO Capital Markets reissued a “hold” rating and set a $55.00 target price on shares of Hess Corporation in a report on Monday, May 15th. Cowen and Company set a $55.00 price target on Hess Corporation and gave the company a “hold” rating in a research report on Monday, July 10th. Citigroup Inc. dropped their price target on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Capital One Financial Corporation lowered Hess Corporation from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Wednesday, June 21st. Finally, Zacks Investment Research lowered Hess Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Hess Corporation currently has an average rating of “Hold” and an average target price of $53.56.
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.
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