Hess Corp. (NYSE:HES) COO Gregory P. Hill sold 17,750 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.94, for a total transaction of $1,259,185.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
NYSE:HES traded down $1.59 during trading hours on Thursday, hitting $65.32. 637,639 shares of the company traded hands, compared to its average volume of 3,026,589. The company has a quick ratio of 1.46, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $62.28 and its 200-day simple moving average is $61.41. Hess Corp. has a one year low of $35.59 and a one year high of $74.81. The company has a market cap of $21.40 billion, a PE ratio of -88.27 and a beta of 1.98.
Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Hess had a return on equity of 0.46% and a net margin of 1.09%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS. As a group, equities research analysts expect that Hess Corp. will post -0.36 EPS for the current year.
HES has been the topic of a number of recent research reports. Piper Jaffray Companies set a $61.00 target price on Hess and gave the stock a “hold” rating in a report on Friday, August 16th. MKM Partners upgraded Hess from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, May 28th. Barclays initiated coverage on Hess in a report on Monday, August 19th. They issued an “overweight” rating and a $93.00 target price on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Hess in a report on Wednesday, July 31st. Finally, ValuEngine upgraded Hess from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $70.08.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Hess by 6.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 78,945 shares of the oil and gas producer’s stock worth $5,019,000 after purchasing an additional 4,563 shares during the period. Hancock Whitney Corp raised its stake in shares of Hess by 15.4% during the 2nd quarter. Hancock Whitney Corp now owns 6,801 shares of the oil and gas producer’s stock worth $432,000 after purchasing an additional 909 shares during the period. Atria Investments LLC raised its stake in shares of Hess by 1,607.0% during the 2nd quarter. Atria Investments LLC now owns 66,981 shares of the oil and gas producer’s stock worth $1,301,000 after purchasing an additional 63,057 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Hess by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 132,335 shares of the oil and gas producer’s stock worth $8,413,000 after purchasing an additional 3,170 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Hess by 0.5% during the 2nd quarter. BlackRock Inc. now owns 17,524,583 shares of the oil and gas producer’s stock worth $1,114,037,000 after purchasing an additional 89,217 shares during the period. Institutional investors own 90.10% of the company’s stock.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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