Macquarie Group Ltd. maintained its stake in Hess Corp. (NYSE:HES) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Hess Corp. were worth $192,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in HES. Elliott Management Corp boosted its stake in Hess Corp. by 5.6% in the first quarter. Elliott Management Corp now owns 18,800,000 shares of the company’s stock valued at $989,820,000 after buying an additional 1,000,000 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Hess Corp. by 86.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,243,700 shares of the company’s stock valued at $118,131,000 after buying an additional 1,040,700 shares during the last quarter. Carmignac Gestion boosted its stake in Hess Corp. by 11.1% in the second quarter. Carmignac Gestion now owns 4,567,767 shares of the company’s stock valued at $274,523,000 after buying an additional 457,827 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hess Corp. by 12.2% in the first quarter. Geode Capital Management LLC now owns 2,169,803 shares of the company’s stock valued at $114,008,000 after buying an additional 236,612 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Hess Corp. by 31.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 168,204 shares of the company’s stock valued at $10,110,000 after buying an additional 39,947 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.
Shares of Hess Corp. (NYSE:HES) opened at 53.90 on Tuesday. The company’s 50-day moving average price is $52.00 and its 200 day moving average price is $55.50. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08. The firm’s market cap is $16.88 billion.
Hess Corp. (NYSE:HES) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. The company earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The firm’s quarterly revenue was down 34.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.52) earnings per share. On average, analysts predict that Hess Corp. will post ($5.08) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, September 15th. Hess Corp.’s dividend payout ratio is -9.60%.
Several research analysts have weighed in on HES shares. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price target on shares of Hess Corp. in a research report on Monday, August 22nd. KLR Group initiated coverage on Hess Corp. in a report on Monday, September 12th. They set an “accumulate” rating and a $65.00 target price on the stock. Wolfe Research lowered Hess Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, September 12th. Credit Suisse Group AG reissued a “hold” rating and set a $66.00 target price on shares of Hess Corp. in a report on Thursday, July 28th. Finally, Simmons reissued an “overweight” rating and set a $60.00 target price (down from $64.00) on shares of Hess Corp. in a report on Sunday, July 31st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.30.
In related news, COO Gregory P. Hill sold 15,000 shares of Hess Corp. stock in a transaction on Monday, August 8th. The stock was sold at an average price of $55.99, for a total transaction of $839,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.83% of the company’s stock.
Hess Corp. Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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