Lucas Capital Management Has $473,000 Holdings in Hess Corporation (HES)
Lucas Capital Management lowered its position in shares of Hess Corporation (NYSE:HES) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,082 shares of the oil and gas producer’s stock after selling 15,179 shares during the period. Lucas Capital Management’s holdings in Hess Corporation were worth $473,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Hess Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 19,787,281 shares of the oil and gas producer’s stock valued at $868,068,000 after buying an additional 449,097 shares during the period. State Street Corp lifted its position in shares of Hess Corporation by 1.3% in the 2nd quarter. State Street Corp now owns 15,518,364 shares of the oil and gas producer’s stock worth $680,786,000 after purchasing an additional 198,888 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Hess Corporation by 5.1% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,083,402 shares of the oil and gas producer’s stock worth $354,619,000 after purchasing an additional 391,200 shares during the period. Alliancebernstein L.P. lifted its position in shares of Hess Corporation by 6.3% in the 2nd quarter. Alliancebernstein L.P. now owns 7,027,470 shares of the oil and gas producer’s stock worth $308,295,000 after purchasing an additional 416,608 shares during the period. Finally, Capital World Investors lifted its position in shares of Hess Corporation by 1.8% in the 2nd quarter. Capital World Investors now owns 6,811,400 shares of the oil and gas producer’s stock worth $298,816,000 after purchasing an additional 119,241 shares during the period. 87.39% of the stock is owned by institutional investors and hedge funds.
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In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian D. Truelove sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.53, for a total transaction of $255,180.00. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by company insiders.
Several research firms have recently commented on HES. Wolfe Research cut shares of Hess Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. BMO Capital Markets set a $45.00 target price on shares of Hess Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Cowen and Company set a $50.00 target price on shares of Hess Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Hess Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday. Finally, BidaskClub cut shares of Hess Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Three investment 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. The company has a consensus rating of “Hold” and a consensus target price of $51.92.
Hess Corporation (HES) traded down $0.42 during trading hours on Monday, reaching $47.11. 2,155,600 shares of the company’s stock were exchanged, compared to its average volume of 4,165,039. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.68. Hess Corporation has a 1-year low of $37.25 and a 1-year high of $65.56.
Hess Corporation (NYSE:HES) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.27 billion. Hess Corporation had a negative net margin of 113.21% and a negative return on equity of 9.30%. Hess Corporation’s revenue was up 39.3% compared to the same quarter last year. During the same period last year, the business earned ($1.12) EPS. equities research analysts expect that Hess Corporation will post -4.72 earnings per share for the current year.
Hess Corporation 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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