Hess Corporation (HES) Shares Sold by IHT Wealth Management LLC
IHT Wealth Management LLC reduced its holdings in Hess Corporation (NYSE:HES) by 15.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 631 shares of the oil and gas producer’s stock after selling 118 shares during the period. Hess Corporation makes up 1.8% of IHT Wealth Management LLC’s portfolio, making the stock its 4th largest holding. IHT Wealth Management LLC’s holdings in Hess Corporation were worth $3,812,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of HES. Pacer Advisors Inc. grew its stake in shares of Hess Corporation by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 5,971 shares of the oil and gas producer’s stock worth $288,000 after buying an additional 187 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Hess Corporation by 22.7% in the 1st quarter. Stifel Financial Corp now owns 16,490 shares of the oil and gas producer’s stock worth $789,000 after buying an additional 3,056 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hess Corporation by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 406,760 shares of the oil and gas producer’s stock worth $19,610,000 after buying an additional 7,756 shares in the last quarter. FMR LLC grew its stake in shares of Hess Corporation by 2.6% in the 1st quarter. FMR LLC now owns 4,317,393 shares of the oil and gas producer’s stock worth $208,142,000 after buying an additional 110,921 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in shares of Hess Corporation by 8.9% in the 1st quarter. Bridgewater Associates LP now owns 83,280 shares of the oil and gas producer’s stock worth $4,015,000 after buying an additional 6,779 shares in the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.
Hess Corporation (NYSE HES) traded down 2.02% during midday trading on Friday, hitting $44.59. 4,688,950 shares of the stock traded hands. Hess Corporation has a 12-month low of $37.25 and a 12-month high of $65.56. The firm’s market cap is $14.02 billion. The company’s 50-day moving average is $42.07 and its 200 day moving average is $44.74.
Hess Corporation (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) 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 during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted ($1.10) EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Hess Corporation will post ($4.81) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, September 15th. Hess Corporation’s payout ratio is -5.18%.
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A number of equities analysts have commented on the stock. Morgan Stanley reissued an “equal weight” rating on shares of Hess Corporation in a research note on Saturday, September 16th. J P Morgan Chase & Co cut shares of Hess Corporation from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $45.00 in a research note on Thursday, September 14th. Zacks Investment Research raised shares of Hess Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. BMO Capital Markets reissued a “hold” rating and issued a $42.00 price objective on shares of Hess Corporation in a research note on Friday, September 1st. Finally, Piper Jaffray Companies set a $47.00 price objective on shares of Hess Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.83.
In other news, COO Gregory P. Hill sold 11,726 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total value of $449,926.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’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 transaction of $168,359.31. The disclosure for this sale can be found here. In the last three months, insiders sold 21,599 shares of company stock valued at $873,466. Insiders own 11.80% of the company’s stock.
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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