Gregory P. Hill Sells 11,726 Shares of Hess Corporation (HES) Stock
Hess Corporation (NYSE:HES) COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total value of $449,926.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Hess Corporation (NYSE HES) opened at 38.13 on Wednesday. The company’s market capitalization is $11.99 billion. Hess Corporation has a one year low of $37.37 and a one year high of $65.56. The firm has a 50 day moving average price of $42.19 and a 200 day moving average price of $46.35.
Hess Corporation (NYSE:HES) last released its 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 net margin of 118.07% and a negative return on equity of 8.49%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Hess Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Hess Corporation will post ($4.79) EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in HES. BlackRock Inc. raised its position in Hess Corporation by 4,680.2% in the first quarter. BlackRock Inc. now owns 28,963,519 shares of the oil and gas producer’s stock valued at $1,396,331,000 after buying an additional 28,357,619 shares during the last quarter. Vanguard Group Inc. raised its position in Hess Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 19,787,281 shares of the oil and gas producer’s stock valued at $868,068,000 after buying an additional 449,097 shares during the last quarter. State Street Corp raised its position in Hess Corporation by 1.3% in the second quarter. State Street Corp now owns 15,518,364 shares of the oil and gas producer’s stock valued at $680,786,000 after buying an additional 198,888 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Hess Corporation by 5.1% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 8,083,402 shares of the oil and gas producer’s stock valued at $354,619,000 after buying an additional 391,200 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Hess Corporation by 6.3% in the second quarter. Alliancebernstein L.P. now owns 7,027,470 shares of the oil and gas producer’s stock valued at $308,295,000 after buying an additional 416,608 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
A number of equities analysts have commented on HES shares. BMO Capital Markets reissued a “hold” rating and issued a $55.00 price objective on shares of Hess Corporation in a research note on Monday, May 15th. Wells Fargo & Company raised Hess Corporation from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $46.13 to $45.84 in a research note on Friday, May 5th. They noted that the move was a valuation call. Cowen and Company set a $55.00 price objective on Hess Corporation and gave the stock a “hold” rating in a research note on Monday, July 10th. Citigroup Inc. reduced their price objective on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Finally, Capital One Financial Corporation lowered Hess Corporation from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $65.00 to $50.00 in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.56.
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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