Sei Investments Co. raised its stake in shares of Hess Corporation (NYSE:HES) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 131,123 shares of the oil and gas producer’s stock after buying an additional 1,068 shares during the period. Sei Investments Co.’s holdings in Hess Corporation were worth $5,752,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Hess Corporation by 6.0% in the second quarter. Bessemer Group Inc. now owns 59,326 shares of the oil and gas producer’s stock valued at $2,603,000 after buying an additional 3,365 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Hess Corporation by 44.0% in the second quarter. CIBC Asset Management Inc now owns 52,247 shares of the oil and gas producer’s stock valued at $2,292,000 after buying an additional 15,955 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Hess Corporation by 11.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 977,952 shares of the oil and gas producer’s stock valued at $42,903,000 after buying an additional 97,304 shares during the last quarter. Klingenstein Fields & Co. LLC boosted its stake in shares of Hess Corporation by 0.7% in the second quarter. Klingenstein Fields & Co. LLC now owns 608,194 shares of the oil and gas producer’s stock valued at $26,682,000 after buying an additional 4,325 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in shares of Hess Corporation by 47.2% in the second quarter. Eagle Global Advisors LLC now owns 113,238 shares of the oil and gas producer’s stock valued at $4,968,000 after buying an additional 36,316 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.

Shares of Hess Corporation (NYSE:HES) opened at 40.70 on Wednesday. The company has a 50-day moving average of $43.21 and a 200 day moving average of $47.13. The stock’s market cap is $12.80 billion. Hess Corporation has a one year low of $39.78 and a one year high of $65.56.

Hess Corporation (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by $0.14. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned ($1.10) earnings per share. Hess Corporation’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Hess Corporation will post ($4.76) earnings per share for the current fiscal year.

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Several analysts have commented on the stock. Scotiabank set a $52.00 price objective on shares of Hess Corporation and gave the company a “buy” rating in a research note on Friday, August 11th. BMO Capital Markets set a $42.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. BidaskClub cut shares of Hess Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Citigroup Inc. decreased their price objective on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, Cowen and Company set a $50.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a research note on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.06.

In other Hess Corporation news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.80% of the stock is owned by company 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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Institutional Ownership by Quarter for Hess Corporation (NYSE:HES)

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