Hess Corporation (HES) Shares Bought by Trillium Asset Management LLC
Trillium Asset Management LLC increased its position in Hess Corporation (NYSE:HES) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 63,356 shares of the oil and gas producer’s stock after buying an additional 777 shares during the period. Trillium Asset Management LLC’s holdings in Hess Corporation were worth $2,779,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Hess Corporation by 4,680.2% in the first quarter. BlackRock Inc. now owns 28,963,519 shares of the oil and gas producer’s stock worth $1,396,331,000 after buying an additional 28,357,619 shares in the last quarter. Vanguard Group Inc. boosted its position in Hess Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 19,338,184 shares of the oil and gas producer’s stock worth $932,293,000 after buying an additional 1,173,577 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Hess Corporation by 0.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,692,202 shares of the oil and gas producer’s stock worth $370,841,000 after buying an additional 55,733 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Hess Corporation by 15.3% in the first quarter. Artisan Partners Limited Partnership now owns 4,628,866 shares of the oil and gas producer’s stock worth $223,158,000 after buying an additional 615,005 shares in the last quarter. Finally, FMR LLC boosted its position in Hess Corporation by 2.6% in the first quarter. FMR LLC now owns 4,317,393 shares of the oil and gas producer’s stock worth $208,142,000 after buying an additional 110,921 shares in the last quarter. Institutional investors own 86.32% of the company’s stock.
Shares of Hess Corporation (NYSE HES) opened at 40.70 on Wednesday. The company’s 50-day moving average is $43.21 and its 200 day moving average is $47.13. Hess Corporation has a 52-week low of $39.78 and a 52-week high of $65.56. The firm’s market capitalization is $12.80 billion.
Hess Corporation (NYSE:HES) last announced its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share 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 analyst estimates of $1.19 billion. During the same period in the previous year, the firm posted ($1.10) EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that Hess Corporation will post ($4.76) earnings per share for the current fiscal year.
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HES has been the subject of a number of research analyst reports. Capital One Financial Corporation cut shares of Hess Corporation from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $65.00 to $50.00 in a research report on Wednesday, June 21st. Atlantic Securities cut shares of Hess Corporation from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, June 27th. Scotiabank set a $53.00 price objective on shares of Hess Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 16th. BMO Capital Markets set a $55.00 price objective on shares of Hess Corporation and gave the stock a “hold” rating in a research report on Saturday, June 17th. Finally, BidaskClub upgraded shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $54.06.
In related news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.80% of the company’s stock.
About Hess Corporation
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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