CIBC World Markets Inc. increased its holdings in shares of Hess Corporation (NYSE:HES) by 3.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,811 shares of the oil and gas producer’s stock after acquiring an additional 3,202 shares during the period. CIBC World Markets Inc.’s holdings in Hess Corporation were worth $4,159,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of HES. D Orazio & Associates Inc. boosted its holdings in Hess Corporation by 266.7% in the 1st quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Hess Corporation by 7.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 167 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Hess Corporation in the 1st quarter worth about $114,000. Korea Investment CORP boosted its holdings in shares of Hess Corporation by 142.0% during the 2nd quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Lenox Wealth Advisors Inc. acquired a new position in shares of Hess Corporation during the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.
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In related news, COO Gregory P. Hill sold 11,726 shares of Hess Corporation stock in a transaction on 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 filing with the SEC, which is available at the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of Hess Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. Insiders own 11.80% of the company’s stock.
Several research analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating on shares of Hess Corporation in a report on Saturday. J P Morgan Chase & Co cut Hess Corporation from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $52.00 to $45.00 in a report on Thursday. Zacks Investment Research upgraded Hess Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 price target on shares of Hess Corporation in a research report on Friday, September 1st. Finally, Piper Jaffray Companies set a $47.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.13.
Hess Corporation (NYSE HES) opened at 42.17 on Friday. The firm’s market cap is $13.26 billion. The company’s 50 day moving average is $40.84 and its 200-day moving average is $45.19. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56.
Hess Corporation (NYSE:HES) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) 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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned ($1.10) EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Hess Corporation will post ($4.80) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, September 15th. Hess Corporation’s dividend payout ratio (DPR) is -5.18%.
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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