Williams Jones & Associates LLC decreased its stake in shares of Hess Corporation (NYSE:HES) by 13.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,812 shares of the oil and gas producer’s stock after selling 1,181 shares during the quarter. Williams Jones & Associates LLC’s holdings in Hess Corporation were worth $343,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HES. Envestnet Asset Management Inc. raised its stake in Hess Corporation by 2.7% during the first quarter. Envestnet Asset Management Inc. now owns 26,269 shares of the oil and gas producer’s stock valued at $1,267,000 after buying an additional 691 shares during the last quarter. Pacer Advisors Inc. raised its stake in Hess Corporation by 3.2% during the first quarter. Pacer Advisors Inc. now owns 5,971 shares of the oil and gas producer’s stock valued at $288,000 after buying an additional 187 shares during the last quarter. Nordea Investment Management AB raised its stake in Hess Corporation by 0.8% during the first quarter. Nordea Investment Management AB now owns 17,748 shares of the oil and gas producer’s stock valued at $856,000 after buying an additional 148 shares during the last quarter. Stifel Financial Corp raised its stake in Hess Corporation by 22.7% during the first quarter. Stifel Financial Corp now owns 16,490 shares of the oil and gas producer’s stock valued at $789,000 after buying an additional 3,056 shares during the last quarter. Finally, United Services Automobile Association raised its stake in Hess Corporation by 6.2% during the first quarter. United Services Automobile Association now owns 276,066 shares of the oil and gas producer’s stock valued at $13,309,000 after buying an additional 16,010 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

In related news, insider Brian D. Truelove sold 6,000 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $42.53, for a total value of $255,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,599 shares of company stock worth $873,466. 11.80% of the stock is owned by insiders.

Shares of Hess Corporation (NYSE:HES) opened at 44.4622 on Friday. Hess Corporation has a 12-month low of $37.25 and a 12-month high of $65.56. The company’s market cap is $13.98 billion. The firm has a 50 day moving average price of $41.89 and a 200-day moving average price of $44.77.

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 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 firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned ($1.10) earnings per share. Hess Corporation’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Hess Corporation will post ($4.81) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, September 15th. Hess Corporation’s payout ratio is -5.18%.

HES has been the subject of a number of recent research reports. Scotiabank set a $53.00 price objective on Hess Corporation and gave the company a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Hess Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Morgan Stanley reiterated an “equal weight” rating on shares of Hess Corporation in a research note on Saturday, September 16th. Citigroup Inc. lowered their price objective on Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $42.00 price objective on shares of Hess Corporation in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $51.83.

WARNING: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/06/williams-jones-associates-llc-sells-1181-shares-of-hess-corporation-hes.html.

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.

Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Corporation (NYSE:HES).

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

Receive News & Stock Ratings for Hess Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess Corporation and related stocks with our FREE daily email newsletter.