Edmond DE Rothschild Holding S.A. Has $1.68 Million Stake in Hess Corporation (HES)
Edmond DE Rothschild Holding S.A. lifted its position in shares of Hess Corporation (NYSE:HES) by 21.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,460 shares of the oil and gas producer’s stock after purchasing an additional 6,910 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Hess Corporation were worth $1,684,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of HES. Advisors Asset Management Inc. boosted its holdings in shares of Hess Corporation by 8.5% during the first quarter. Advisors Asset Management Inc. now owns 14,422 shares of the oil and gas producer’s stock worth $695,000 after purchasing an additional 1,131 shares during the period. US Bancorp DE boosted its holdings in shares of Hess Corporation by 2.2% during the first quarter. US Bancorp DE now owns 31,936 shares of the oil and gas producer’s stock worth $1,540,000 after purchasing an additional 685 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Hess Corporation by 8.7% during the first quarter. UBS Asset Management Americas Inc. now owns 2,387,346 shares of the oil and gas producer’s stock worth $115,094,000 after purchasing an additional 190,166 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Hess Corporation during the first quarter worth about $3,648,000. Finally, Sei Investments Co. boosted its holdings in shares of Hess Corporation by 7.5% during the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock worth $6,270,000 after purchasing an additional 9,101 shares during the period. Institutional investors own 87.15% of the company’s stock.
Hess Corporation (NYSE HES) opened at 42.17 on Friday. The firm’s 50 day moving average is $40.84 and its 200-day moving average is $45.19. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The company’s market cap is $13.26 billion.
Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.14). Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company posted ($1.10) EPS. Hess Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that Hess Corporation will post ($4.80) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.25 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Hess Corporation’s payout ratio is presently -5.18%.
A number of research firms have recently weighed in on HES. Goldman Sachs Group, Inc. (The) lowered shares of Hess Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $69.00 to $58.00 in a report on Tuesday, May 30th. ValuEngine upgraded shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. BMO Capital Markets set a $42.00 target price on shares of Hess Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of Hess Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Wolfe Research lowered shares of Hess Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Hess Corporation has a consensus rating of “Hold” and an average target price of $52.13.
In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total transaction of $449,926.62. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by corporate insiders.
Hess Corporation 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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