Fayez Sarofim & Co. Sells 300 Shares of Hess Corporation (HES)

Fayez Sarofim & Co. lessened its position in Hess Corporation (NYSE:HES) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,004 shares of the oil and gas producer’s stock after selling 300 shares during the period. Fayez Sarofim & Co.’s holdings in Hess Corporation were worth $1,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D Orazio & Associates Inc. increased its holdings in Hess Corporation by 266.7% in the 1st quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Hess Corporation by 7.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 167 shares in the last quarter. Korea Investment CORP increased its holdings in Hess Corporation by 142.0% in the 2nd quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after purchasing an additional 1,552 shares in the last quarter. Lenox Wealth Advisors Inc. acquired a new position in Hess Corporation in the 2nd quarter worth about $132,000. Finally, Welch & Forbes LLC increased its holdings 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 in the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

In other news, COO Gregory P. Hill sold 11,726 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here. Insiders own 11.80% of the company’s stock.

Shares of Hess Corporation (HES) traded up 0.97% during midday trading on Monday, hitting $42.58. The company had a trading volume of 492,950 shares. The firm’s 50 day moving average is $40.84 and its 200 day moving average is $45.19. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The company’s market capitalization is $13.39 billion.

Hess Corporation (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned ($1.10) earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Hess Corporation will post ($4.80) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Hess Corporation’s dividend payout ratio is currently -5.18%.

HES has been the subject of a number of recent research reports. Goldman Sachs Group, Inc. (The) cut Hess Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $69.00 to $58.00 in a report on Tuesday, May 30th. ValuEngine raised Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. BMO Capital Markets set a $55.00 target price on Hess Corporation and gave the stock a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research cut Hess Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Capital One Financial Corporation cut Hess Corporation from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $65.00 to $50.00 in a report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.13.

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

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