Keybank National Association OH lessened its stake in Hess Corporation (NYSE:HES) by 47.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,760 shares of the oil and gas producer’s stock after selling 10,494 shares during the period. Keybank National Association OH’s holdings in Hess Corporation were worth $516,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Welch & Forbes LLC grew its position in Hess Corporation by 1.0% in the 2nd quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 46 shares during the period. Bollard Group LLC grew its position in Hess Corporation by 0.6% in the 2nd quarter. Bollard Group LLC now owns 10,462 shares of the oil and gas producer’s stock worth $459,000 after purchasing an additional 62 shares during the period. Conning Inc. grew its position in Hess Corporation by 1.3% in the 2nd quarter. Conning Inc. now owns 7,687 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 99 shares during the period. Cleararc Capital Inc. grew its position in Hess Corporation by 1.7% in the 1st quarter. Cleararc Capital Inc. now owns 6,595 shares of the oil and gas producer’s stock worth $318,000 after purchasing an additional 113 shares during the period. Finally, Nordea Investment Management AB grew its position in Hess Corporation by 0.8% in the 1st quarter. Nordea Investment Management AB now owns 17,748 shares of the oil and gas producer’s stock worth $856,000 after purchasing an additional 148 shares during the period. 87.15% of the stock is owned by institutional investors and hedge funds.
Hess Corporation (HES) opened at 40.92 on Tuesday. Hess Corporation has a one year low of $37.25 and a one year high of $65.56. The company has a 50-day moving average of $41.10 and a 200 day moving average of $45.42. The company’s market cap is $12.87 billion.
Hess Corporation (NYSE:HES) last announced its earnings results 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned ($1.10) EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts anticipate that Hess Corporation will post ($4.79) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. Hess Corporation’s payout ratio is presently -5.18%.
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HES has been the subject of a number of research analyst reports. Capital One Financial Corporation downgraded shares of Hess Corporation from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $65.00 to $50.00 in a research report on Wednesday, June 21st. Atlantic Securities downgraded shares of Hess Corporation from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $45.00 in a research report on Tuesday, June 27th. Cowen and Company reaffirmed a “hold” rating and issued a $50.00 target price on shares of Hess Corporation in a research report on Tuesday, August 22nd. Scotiabank set a $53.00 target price on shares of Hess Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Finally, Piper Jaffray Companies set a $47.00 target price on shares of Hess Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Hess Corporation presently has an average rating of “Hold” and a consensus price target of $53.56.
In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of Hess Corporation stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of Hess Corporation stock in a transaction dated 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. Insiders own 11.80% of the company’s stock.
Hess Corporation 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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