Hess Corporation (NYSE:HES) Insider Sells $168,359.31 in Stock
Hess Corporation (NYSE:HES) insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’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 value of $168,359.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Hess Corporation (NYSE:HES) traded down 0.61% during trading on Wednesday, hitting $42.36. The stock had a trading volume of 2,698,624 shares. The stock’s market capitalization is $13.32 billion. Hess Corporation has a 52 week low of $39.89 and a 52 week high of $65.56. The stock’s 50 day moving average is $43.22 and its 200 day moving average is $48.06.
Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.14. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted ($1.10) EPS. On average, equities research analysts expect that Hess Corporation will post ($4.75) earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. BMO Capital Markets set a $55.00 price target on Hess Corporation and gave the stock a “hold” rating in a report on Saturday, June 17th. Scotiabank set a $50.00 price target on Hess Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. Wolfe Research downgraded Hess Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $80.00 target price on shares of Hess Corporation in a research note on Friday, April 14th. Finally, Cowen and Company set a $55.00 target price on Hess Corporation and gave the company a “hold” rating in a research note on Monday, July 10th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.91.
A number of hedge funds have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. raised its stake in Hess Corporation by 3.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 234,861 shares of the oil and gas producer’s stock worth $11,323,000 after buying an additional 8,333 shares during the period. Manning & Napier Advisors LLC raised its stake in Hess Corporation by 99.1% in the first quarter. Manning & Napier Advisors LLC now owns 29,946 shares of the oil and gas producer’s stock worth $1,442,000 after buying an additional 14,905 shares during the period. Creative Planning raised its stake in Hess Corporation by 33.8% in the first quarter. Creative Planning now owns 13,057 shares of the oil and gas producer’s stock worth $630,000 after buying an additional 3,296 shares during the period. National Pension Service raised its stake in Hess Corporation by 12.9% in the first quarter. National Pension Service now owns 263,597 shares of the oil and gas producer’s stock worth $12,911,000 after buying an additional 30,207 shares during the period. Finally, Verde Servicos Internacionais S.A. purchased a new stake in Hess Corporation during the first quarter worth $318,000. 85.80% of the stock is currently owned by institutional investors and hedge funds.
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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