Fayez Sarofim & Co. Holds Stake in Hess Corporation (HES)
Fayez Sarofim & Co. maintained its position in shares of Hess Corporation (NYSE:HES) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,304 shares of the company’s stock at the end of the third quarter. Fayez Sarofim & Co.’s holdings in Hess Corporation were worth $1,785,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. CNA Financial Corp raised its position in shares of Hess Corporation by 47.7% in the second quarter. CNA Financial Corp now owns 19,183 shares of the company’s stock worth $1,152,000 after buying an additional 6,195 shares during the period. BlackRock Group LTD raised its position in shares of Hess Corporation by 5.5% in the second quarter. BlackRock Group LTD now owns 3,629,825 shares of the company’s stock worth $218,154,000 after buying an additional 190,043 shares during the period. BlackRock Investment Management LLC raised its position in shares of Hess Corporation by 0.9% in the second quarter. BlackRock Investment Management LLC now owns 2,438,765 shares of the company’s stock worth $146,570,000 after buying an additional 21,042 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Hess Corporation by 3.7% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 16,711 shares of the company’s stock worth $1,004,000 after buying an additional 600 shares during the period. Finally, Neuberger Berman Group LLC raised its position in shares of Hess Corporation by 8.2% in the second quarter. Neuberger Berman Group LLC now owns 16,889 shares of the company’s stock worth $1,015,000 after buying an additional 1,277 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.
Hess Corporation (NYSE:HES) opened at 51.30 on Friday. The stock’s market capitalization is $16.07 billion. The firm has a 50-day moving average of $56.73 and a 200 day moving average of $54.37. Hess Corporation has a 12-month low of $38.50 and a 12-month high of $65.56.
Hess Corporation (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 25th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.07. Hess Corporation had a negative net margin of 126.59% and a negative return on equity of 7.51%. The business earned $1.39 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company posted ($1.40) EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Hess Corporation will post ($3.03) earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on the stock. KLR Group raised their target price on shares of Hess Corporation from $62.00 to $68.00 and gave the stock an “accumulate” rating in a research report on Tuesday, December 13th. J P Morgan Chase & Co raised shares of Hess Corporation from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $58.00 to $65.00 in a research report on Thursday, December 8th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Hess Corporation in a research report on Monday, October 31st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $64.33.
In other news, CEO John B. Hess sold 43,711 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $53.77, for a total value of $2,350,340.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy B. Goodell sold 5,112 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $53.59, for a total transaction of $273,952.08. The disclosure for this sale can be found here. Corporate insiders own 11.83% of the company’s stock.
Hess Corporation Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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