Norinchukin Bank The grew its stake in shares of Hess Corporation (NYSE:HES) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,752 shares of the oil and gas producer’s stock after purchasing an additional 1,270 shares during the period. Norinchukin Bank The’s holdings in Hess Corporation were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Hess Corporation by 4,680.2% during the first quarter. BlackRock Inc. now owns 28,963,519 shares of the oil and gas producer’s stock valued at $1,396,331,000 after purchasing an additional 28,357,619 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hess Corporation by 6.5% during the first quarter. Vanguard Group Inc. now owns 19,338,184 shares of the oil and gas producer’s stock valued at $932,293,000 after purchasing an additional 1,173,577 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Hess Corporation by 0.7% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,692,202 shares of the oil and gas producer’s stock valued at $370,841,000 after purchasing an additional 55,733 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Hess Corporation by 6.3% during the second quarter. Alliancebernstein L.P. now owns 7,027,470 shares of the oil and gas producer’s stock valued at $308,295,000 after purchasing an additional 416,608 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Hess Corporation by 15.3% during the first quarter. Artisan Partners Limited Partnership now owns 4,628,866 shares of the oil and gas producer’s stock valued at $223,158,000 after purchasing an additional 615,005 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.
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 value of $449,926.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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. 11.80% of the stock is currently owned by insiders.
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Several equities analysts have recently weighed in on HES shares. Scotiabank set a $53.00 price objective on shares of Hess Corporation and gave the company a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Hess Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Citigroup Inc. dropped their price objective on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. BMO Capital Markets reiterated a “hold” rating and set a $42.00 price objective on shares of Hess Corporation in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $52.13.
Shares of Hess Corporation (HES) opened at 42.48 on Tuesday. Hess Corporation has a 12 month low of $37.25 and a 12 month high of $65.56. The firm has a 50-day moving average of $40.78 and a 200-day moving average of $45.03. The company’s market capitalization is $13.36 billion.
Hess Corporation (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned ($1.10) earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Hess Corporation will post ($4.80) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.00 annualized dividend and a yield of 2.35%. Hess Corporation’s dividend payout ratio (DPR) is presently -5.18%.
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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