First Trust Advisors LP Reduces Stake in Hess Corp. (HES)
First Trust Advisors LP lowered its position in Hess Corp. (NYSE:HES) by 44.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 297,932 shares of the company’s stock after selling 238,170 shares during the period. First Trust Advisors LP owned 0.10% of Hess Corp. worth $15,975,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bollard Group LLC raised its position in shares of Hess Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 10,250 shares of the company’s stock worth $616,000 after buying an additional 48 shares during the period. River Wealth Advisors LLC raised its position in Hess Corp. by 0.7% in the second quarter. River Wealth Advisors LLC now owns 7,179 shares of the company’s stock worth $431,000 after buying an additional 53 shares during the period. Ropes Wealth Advisors LLC raised its position in 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 period. Shell Asset Management Co. raised its position in Hess Corp. by 0.5% in the third quarter. Shell Asset Management Co. now owns 22,791 shares of the company’s stock worth $1,222,000 after buying an additional 120 shares during the period. Finally, Creative Planning raised its position in Hess Corp. by 1.4% in the third quarter. Creative Planning now owns 9,747 shares of the company’s stock worth $523,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 82.92% of the company’s stock.
Hess Corp. (NYSE:HES) traded down 1.773% on Monday, hitting $51.795. The stock had a trading volume of 1,807,701 shares. Hess Corp. has a one year low of $32.41 and a one year high of $63.76. The company’s market cap is $16.22 billion. The stock has a 50-day moving average of $50.53 and a 200-day moving average of $54.07.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.12. The firm earned $1.20 billion during the quarter, compared to the consensus estimate of $1.31 billion. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The firm’s revenue was down 29.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.03) EPS. Equities analysts expect that Hess Corp. will post ($5.07) earnings per share for the current fiscal year.
HES has been the topic of a number of analyst reports. Wolfe Research lowered shares of Hess Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, September 12th. Barclays PLC reiterated an “equal weight” rating and issued a $64.00 price objective on shares of Hess Corp. in a research report on Monday, October 10th. Nomura reiterated a “hold” rating and issued a $56.00 price objective on shares of Hess Corp. in a research report on Monday, October 3rd. Bank of America Corp. reiterated a “buy” rating and issued a $85.00 price objective on shares of Hess Corp. in a research report on Monday, August 22nd. Finally, Simmons reiterated an “overweight” rating on shares of Hess Corp. in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $60.57.
In other news, COO Gregory P. Hill sold 2,951 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $51.78, for a total value of $152,802.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian D. Truelove sold 5,000 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.41, for a total value of $237,050.00. The disclosure for this sale can be found here. Corporate insiders own 11.83% of the company’s stock.
About Hess Corp.
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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