Private Advisor Group LLC decreased its holdings in Hess Corporation (NYSE:HES) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,644 shares of the oil and gas producer’s stock after selling 1,761 shares during the period. Private Advisor Group LLC’s holdings in Hess Corporation were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HES. BlackRock Inc. increased its stake in shares of 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 worth $1,396,331,000 after purchasing an additional 28,357,619 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Hess Corporation by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 4,615,399 shares of the oil and gas producer’s stock worth $202,476,000 after purchasing an additional 2,117,131 shares in the last quarter. Levin Capital Strategies L.P. increased its stake in shares of Hess Corporation by 67.9% in the first quarter. Levin Capital Strategies L.P. now owns 3,242,044 shares of the oil and gas producer’s stock worth $156,299,000 after purchasing an additional 1,310,706 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Hess Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 19,338,184 shares of the oil and gas producer’s stock worth $932,293,000 after purchasing an additional 1,173,577 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Hess Corporation by 31.0% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,832,180 shares of the oil and gas producer’s stock worth $184,749,000 after purchasing an additional 907,826 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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Shares of Hess Corporation (NYSE HES) opened at 42.17 on Friday. The company’s market capitalization is $13.26 billion. The stock has a 50 day moving average of $40.84 and a 200-day moving average of $45.19. Hess Corporation has a one year low of $37.25 and a one year high of $65.56.

Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted ($1.10) earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Hess Corporation will post ($4.80) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, September 15th. Hess Corporation’s dividend payout ratio (DPR) is presently -5.18%.

Several equities analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) cut shares of Hess Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $69.00 to $58.00 in a research note on Tuesday, May 30th. ValuEngine raised shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. BMO Capital Markets set a $42.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. BidaskClub cut shares of Hess Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Wolfe Research cut shares of Hess Corporation from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $52.13.

In related news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory P. Hill sold 11,726 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The disclosure for this sale can be found here. Company insiders own 11.80% of the company’s stock.

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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Institutional Ownership by Quarter for Hess Corporation (NYSE:HES)

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