Lowe Brockenbrough & Co. Inc. increased its position in shares of Hess Corporation (NYSE:HES) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,738 shares of the oil and gas producer’s stock after buying an additional 14,425 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Hess Corporation were worth $4,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in HES. Welch & Forbes LLC increased its position in shares of Hess Corporation by 1.0% in the second quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock worth $205,000 after buying an additional 46 shares in the last quarter. Bollard Group LLC increased its position in shares of Hess Corporation by 0.5% in the first quarter. Bollard Group LLC now owns 10,400 shares of the oil and gas producer’s stock worth $501,000 after buying an additional 56 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of Hess Corporation by 1.7% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the oil and gas producer’s stock worth $318,000 after buying an additional 113 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Hess Corporation by 0.8% in the first quarter. Nordea Investment Management AB now owns 17,748 shares of the oil and gas producer’s stock worth $856,000 after buying an additional 148 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Hess Corporation by 3.2% in the first 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. Institutional investors and hedge funds own 85.80% of the company’s stock.

Hess Corporation (HES) opened at 44.35 on Friday. Hess Corporation has a 52 week low of $39.89 and a 52 week high of $65.56. The company’s 50-day moving average price is $43.32 and its 200 day moving average price is $48.15. The stock’s market capitalization is $13.94 billion.

Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.32) by $0.14. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned ($1.10) EPS. Equities research analysts expect that Hess Corporation will post ($4.77) EPS for the current fiscal year.

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A number of brokerages have recently issued reports on HES. BMO Capital Markets set a $55.00 price target on Hess Corporation and gave the company a “hold” rating in a report on Saturday, June 17th. Scotiabank set a $50.00 price target on Hess Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. Wolfe Research downgraded Hess Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price target on shares of Hess Corporation in a report on Friday, April 14th. Finally, Cowen and Company set a $55.00 price target on Hess Corporation and gave the company a “hold” rating in a report on Monday, July 10th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $53.91.

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.

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

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