Hess Corporation (NYSE:HES) shares hit a new 52-week low on Wednesday . The company traded as low as $39.55 and last traded at $39.54, with a volume of 1,421,458 shares trading hands. The stock had previously closed at $40.70.

HES has been the subject of a number of research reports. KLR Group restated a “buy” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Hess Corporation in a report on Saturday, April 29th. Scotiabank set a $53.00 price objective on shares of Hess Corporation and gave the company a “buy” rating in a report on Tuesday, May 16th. Barclays PLC restated an “equal weight” rating and issued a $50.00 price objective (down previously from $61.00) on shares of Hess Corporation in a report on Wednesday, July 12th. BMO Capital Markets set a $55.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a report on Saturday, June 17th. Finally, Cowen and Company set a $55.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a report on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $54.06.

The stock has a 50-day moving average price of $43.21 and a 200 day moving average price of $47.13. The stock’s market capitalization is $12.35 billion.

Hess Corporation (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $1.19 billion. During the same period last year, the business earned ($1.10) EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Analysts forecast that Hess Corporation will post ($4.76) EPS for the current fiscal year.

In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. D Orazio & Associates Inc. boosted its position in Hess Corporation by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,600 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Hess Corporation by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock valued at $108,000 after buying an additional 167 shares during the period. State of Alaska Department of Revenue acquired a new position in Hess Corporation during the first quarter valued at approximately $114,000. Korea Investment CORP boosted its position in Hess Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock valued at $116,000 after buying an additional 1,552 shares during the period. Finally, Financial Architects Inc boosted its position in Hess Corporation by 147.6% in the first quarter. Financial Architects Inc now owns 2,600 shares of the oil and gas producer’s stock valued at $125,000 after buying an additional 1,550 shares during the period. Institutional investors own 86.32% of the company’s stock.

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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.

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