National Pension Service increased its stake in Hess Corporation (NYSE:HES) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,307 shares of the oil and gas producer’s stock after buying an additional 25,710 shares during the period. National Pension Service owned about 0.09% of Hess Corporation worth $12,440,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Federated Investors Inc. PA increased 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. Thrivent Financial for Lutherans increased its stake in Hess Corporation by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,320 shares of the oil and gas producer’s stock valued at $581,000 after buying an additional 490 shares during the last quarter. Dodge & Cox bought a new stake in Hess Corporation during the fourth quarter valued at about $256,000. Quadrature Capital Ltd bought a new stake in Hess Corporation during the fourth quarter valued at about $619,000. Finally, Kentucky Retirement Systems bought a new stake in Hess Corporation during the fourth quarter valued at about $1,205,000. Hedge funds and other institutional investors own 85.80% of the company’s stock.
Hess Corporation (HES) traded down 0.98% during midday trading on Friday, hitting $41.33. The stock had a trading volume of 2,096,532 shares. The firm has a 50-day moving average price of $43.26 and a 200-day moving average price of $47.48. The firm’s market capitalization is $12.99 billion. Hess Corporation has a 1-year low of $39.89 and a 1-year high of $65.56.
Hess Corporation (NYSE:HES) last released its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.14. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.10) earnings per share. On average, equities research analysts anticipate that Hess Corporation will post ($4.75) earnings per share for the current year.
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Several analysts have issued reports on HES shares. Barclays PLC cut their price objective on Hess Corporation from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. KLR Group reiterated a “buy” rating and issued a $60.00 target price (up previously from $58.00) on shares of Hess Corporation in a report on Saturday, April 29th. Wells Fargo & Company upgraded Hess Corporation from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $46.13 to $45.84 in a report on Friday, May 5th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 target price on shares of Hess Corporation in a report on Monday, May 15th. Finally, Scotiabank set a $53.00 target price on Hess Corporation and gave the company a “buy” rating in a report on Tuesday, May 16th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $54.06.
In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.80% of the company’s stock.
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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