British Columbia Investment Management Corp Sells 24,938 Shares of Hess Corp. (HES)
British Columbia Investment Management Corp decreased its position in shares of Hess Corp. (NYSE:HES) by 14.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,137 shares of the company’s stock after selling 24,938 shares during the period. British Columbia Investment Management Corp’s holdings in Hess Corp. were worth $8,211,000 as of its most recent filing with the SEC.
A number of other hedge funds have also 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 period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Hess Corp. during the second quarter worth approximately $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 period. Brandes Investment Partners LP acquired a new stake in shares of Hess Corp. during the second quarter worth approximately $208,000. Finally, Advisor Partners LLC acquired a new stake in shares of Hess Corp. during the second quarter worth approximately $212,000. Institutional investors and hedge funds own 82.92% of the company’s stock.
Shares of Hess Corp. (NYSE:HES) traded down 3.22% during midday trading on Tuesday, reaching $49.36. The company had a trading volume of 3,336,424 shares. The company has a 50 day moving average of $50.47 and a 200 day moving average of $53.96. Hess Corp. has a 12-month low of $32.41 and a 12-month high of $63.76. The firm’s market capitalization is $15.46 billion.
Hess Corp. (NYSE:HES) last posted its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.12. The business 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 quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.03) earnings per share. Analysts anticipate that Hess Corp. will post ($5.07) EPS for the current year.
A number of analysts have commented on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Hess Corp. in a research note on Monday, October 31st. KLR Group assumed coverage on shares of Hess Corp. in a research note on Monday, September 12th. They set an “accumulate” rating and a $65.00 price target for the company. Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Simmons reaffirmed an “overweight” rating on shares of Hess Corp. in a report on Thursday, August 11th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $60.57.
In other news, insider Brian D. Truelove sold 5,000 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $47.41, for a total transaction of $237,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory P. Hill sold 2,951 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total value of $152,802.78. The disclosure for this sale can be found here. 11.83% of the stock is owned by company insiders.
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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