Hess Corporation (HES) Shares Sold by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC cut its position in shares of Hess Corporation (NYSE:HES) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 273,453 shares of the oil and gas producer’s stock after selling 6,205 shares during the period. Wedge Capital Management L L P NC’s holdings in Hess Corporation were worth $11,996,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Hess Corporation by 9.3% in the first quarter. Janney Montgomery Scott LLC now owns 23,342 shares of the oil and gas producer’s stock worth $1,125,000 after buying an additional 1,980 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Hess Corporation by 19.5% in the first quarter. Glen Harbor Capital Management LLC now owns 8,778 shares of the oil and gas producer’s stock worth $423,000 after buying an additional 1,430 shares during the period. ProShare Advisors LLC boosted its stake in Hess Corporation by 1.0% in the first quarter. ProShare Advisors LLC now owns 45,852 shares of the oil and gas producer’s stock worth $2,211,000 after buying an additional 467 shares during the period. Guinness Asset Management Ltd boosted its stake in Hess Corporation by 24.9% in the first quarter. Guinness Asset Management Ltd now owns 239,502 shares of the oil and gas producer’s stock worth $11,546,000 after buying an additional 47,700 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Hess Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,600 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 294 shares during the period. Institutional investors own 86.32% of the company’s stock.
Hess Corporation (NYSE:HES) opened at 40.54 on Tuesday. The stock has a 50 day moving average price of $43.23 and a 200 day moving average price of $47.23. The stock’s market capitalization is $12.75 billion. Hess Corporation has a 52 week low of $39.89 and a 52 week high of $65.56.
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 Thomson Reuters’ consensus estimate of ($1.32) by $0.14. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned ($1.10) earnings per share. Equities analysts forecast that Hess Corporation will post ($4.76) EPS for the current year.
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A number of research firms have commented on HES. Barclays PLC decreased their price target on Hess Corporation from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, April 17th. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 price target on shares of Hess Corporation in a research note on Monday, May 15th. KLR Group reiterated a “buy” rating and issued a $60.00 price target (up from $58.00) on shares of Hess Corporation in a research note on Saturday, April 29th. Scotiabank set a $53.00 price target on Hess Corporation and gave the company a “buy” rating in a research note on Tuesday, May 16th. Finally, Goldman Sachs Group, Inc. (The) cut Hess Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $69.00 to $58.00 in a research note on Tuesday, May 30th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.06.
In other Hess Corporation news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 11.80% of the stock is 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.
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