Virginia Retirement Systems ET AL reduced its position in shares of Hess Corporation (NYSE:HES) by 78.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,846 shares of the oil and gas producer’s stock after selling 125,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Hess Corporation were worth $1,529,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its stake in Hess Corporation by 287.9% in the second quarter. Federated Investors Inc. PA now owns 5,148 shares of the oil and gas producer’s stock worth $226,000 after buying an additional 3,821 shares during the last quarter. Cadence Capital Management LLC boosted its stake in Hess Corporation by 145.0% in the second quarter. Cadence Capital Management LLC now owns 31,861 shares of the oil and gas producer’s stock worth $1,398,000 after buying an additional 18,858 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Hess Corporation by 2.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 440,860 shares of the oil and gas producer’s stock worth $19,341,000 after buying an additional 11,074 shares during the last quarter. Everence Capital Management Inc. boosted its stake in Hess Corporation by 23.9% in the second quarter. Everence Capital Management Inc. now owns 21,630 shares of the oil and gas producer’s stock worth $949,000 after buying an additional 4,170 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in Hess Corporation by 9.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 5,475 shares of the oil and gas producer’s stock worth $240,000 after buying an additional 471 shares during the last quarter. 87.14% of the stock is owned by institutional investors.

Hess Corporation (HES) opened at 38.90 on Friday. The company’s market cap is $12.23 billion. Hess Corporation has a 1-year low of $37.55 and a 1-year high of $65.56. The firm’s 50-day moving average price is $41.72 and its 200-day moving average price is $45.97.

Hess Corporation (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted ($1.10) EPS. Hess Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts forecast that Hess Corporation will post ($4.79) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/hess-corporation-hes-position-lowered-by-virginia-retirement-systems-et-al/1535526.html.

A number of research firms have recently issued reports on HES. Piper Jaffray Companies set a $47.00 price objective on Hess Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Cowen and Company reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Hess Corporation in a research report on Tuesday, August 22nd. Scotiabank set a $52.00 price objective on Hess Corporation and gave the company a “buy” rating in a research report on Friday, August 11th. BMO Capital Markets set a $42.00 price objective on Hess Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub cut Hess Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.56.

In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were 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 corporate insiders.

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.

Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Corporation (NYSE:HES).

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

Receive News & Ratings for Hess Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.