Hess Corp. (HES) Shares Bought by Toronto Dominion Bank
Toronto Dominion Bank increased its position in Hess Corp. (NYSE:HES) by 55.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,303 shares of the oil and gas producer’s stock after buying an additional 26,635 shares during the period. Toronto Dominion Bank’s holdings in Hess Corp. were worth $3,582,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Strs Ohio boosted its position in Hess Corp. by 199.2% in the third quarter. Strs Ohio now owns 34,440 shares of the oil and gas producer’s stock worth $1,846,000 after buying an additional 22,931 shares during the last quarter. Shell Asset Management Co. boosted its position in Hess Corp. by 0.5% in the third quarter. Shell Asset Management Co. now owns 22,791 shares of the oil and gas producer’s stock worth $1,222,000 after buying an additional 120 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Hess Corp. during the third quarter worth $316,000. Wells Fargo & Company MN boosted its position in Hess Corp. by 22.0% in the third quarter. Wells Fargo & Company MN now owns 2,424,447 shares of the oil and gas producer’s stock worth $129,998,000 after buying an additional 437,426 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in Hess Corp. by 11.2% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 569,259 shares of the oil and gas producer’s stock worth $30,524,000 after buying an additional 57,512 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Hess Corp. (NYSE:HES) traded up 2.41% on Friday, reaching $48.93. 3,649,083 shares of the company’s stock traded hands. The company has a 50 day moving average of $48.38 and a 200-day moving average of $52.77. The stock’s market capitalization is $15.36 billion. Hess Corp. has a 52 week low of $45.12 and a 52 week high of $65.56.
Hess Corp. (NYSE:HES) last issued its earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.10) by $0.03. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Hess Corp. had a negative net margin of 126.59% and a negative return on equity of 7.51%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.72) earnings per share. Equities research analysts forecast that Hess Corp. will post ($3.54) earnings per share for the current year.
A number of equities analysts recently weighed in on HES shares. KLR Group raised shares of Hess Corp. from an “accumulate” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Friday, January 20th. Goldman Sachs Group Inc lowered shares of Hess Corp. from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, March 1st. Evercore ISI lowered shares of Hess Corp. to a “buy” rating in a report on Friday, March 3rd. Scotiabank reiterated a “buy” rating and set a $65.00 target price on shares of Hess Corp. in a report on Tuesday, March 14th. Finally, Wolfe Research upgraded shares of Hess Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, April 10th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.80.
In other news, Director William G. Schrader acquired 484 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were acquired at an average price of $51.71 per share, with a total value of $25,027.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John B. Hess sold 24,331 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $50.50, for a total transaction of $1,228,715.50. Following the completion of the sale, the chief executive officer now directly owns 1,897,098 shares in the company, valued at approximately $95,803,449. The disclosure for this sale can be found here. Insiders have sold 36,300 shares of company stock worth $1,839,552 over the last three months. 11.83% of the stock is owned by corporate insiders.
Hess Corp. 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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