Exxonmobil Investment Management Inc. TX Acquires 494 Shares of Hess Corp. (HES)
Exxonmobil Investment Management Inc. TX boosted its position in shares of Hess Corp. (NYSE:HES) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,729 shares of the company’s stock after buying an additional 494 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Hess Corp. were worth $3,685,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Exane Derivatives raised its stake in shares of Hess Corp. by 23.5% in the second quarter. Exane Derivatives now owns 2,333 shares of the company’s stock worth $140,000 after buying an additional 444 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Hess Corp. during the second quarter worth $155,000. Ropes Wealth Advisors LLC raised its stake in shares of Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock worth $207,000 after buying an additional 55 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Hess Corp. during the second quarter worth $208,000. Finally, Advisor Partners LLC purchased a new stake in shares of Hess Corp. during the second quarter worth $212,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
Shares of Hess Corp. (NYSE:HES) traded down 3.28% during mid-day trading on Monday, hitting $51.00. 3,115,284 shares of the stock traded hands. The firm’s 50 day moving average price is $50.53 and its 200-day moving average price is $54.07. The stock’s market cap is $15.97 billion. Hess Corp. has a 12-month low of $32.41 and a 12-month high of $63.76.
Hess Corp. (NYSE:HES) last posted its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative net margin of 63.18% and a negative return on equity of 7.51%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted ($1.03) EPS. The firm’s revenue was down 29.2% compared to the same quarter last year. Analysts predict that Hess Corp. will post ($5.07) earnings per share for the current year.
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HES has been the topic of a number of analyst reports. KLR Group initiated coverage on shares of Hess Corp. in a report on Monday, September 12th. They issued an “accumulate” rating and a $65.00 price objective on the stock. Bank of America Corp. restated a “buy” rating and issued a $85.00 price objective on shares of Hess Corp. in a report on Monday, August 22nd. Goldman Sachs Group Inc. restated a “buy” rating on shares of Hess Corp. in a report on Monday, October 31st. Barclays PLC restated an “equal weight” rating and issued a $64.00 price objective on shares of Hess Corp. in a report on Monday, October 10th. Finally, Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.57.
In other Hess Corp. news, COO Gregory P. Hill sold 2,951 shares of the stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total transaction of $152,802.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian D. Truelove sold 5,000 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $47.41, for a total transaction of $237,050.00. The disclosure for this sale can be found here. Company insiders own 11.83% of the company’s stock.
Hess Corp. Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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