Renaissance Technologies LLC Has $4.60 Million Position in Hess Corporation (NYSE:HES)
Renaissance Technologies LLC reduced its position in shares of Hess Corporation (NYSE:HES) by 52.8% during the first quarter, Holdings Channel reports. The institutional investor owned 95,463 shares of the oil and gas producer’s stock after selling 107,000 shares during the period. Renaissance Technologies LLC’s holdings in Hess Corporation were worth $4,602,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised 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 buying an additional 1,173,577 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Hess Corporation by 0.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,692,202 shares of the oil and gas producer’s stock worth $370,841,000 after buying an additional 55,733 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Hess Corporation by 15.3% in the first quarter. Artisan Partners Limited Partnership now owns 4,628,866 shares of the oil and gas producer’s stock worth $223,158,000 after buying an additional 615,005 shares in the last quarter. FMR LLC raised its stake in shares of Hess Corporation by 2.6% in the first 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, Barrow Hanley Mewhinney & Strauss LLC raised 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 buying an additional 907,826 shares in the last quarter. 85.80% of the stock is currently owned by institutional investors.
Shares of Hess Corporation (NYSE HES) traded up 2.64% on Friday, hitting $44.35. The company had a trading volume of 4,478,010 shares. Hess Corporation has a 12 month low of $39.89 and a 12 month high of $65.56. The stock’s market cap is $13.94 billion. The company has a 50-day moving average of $43.32 and a 200 day moving average of $48.15.
Hess Corporation (NYSE:HES) last issued its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.32) by $0.14. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Analysts anticipate that Hess Corporation will post ($4.77) EPS for the current fiscal year.
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HES has been the topic of a number of analyst reports. Capital One Financial Corporation lowered Hess Corporation from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $65.00 to $50.00 in a report on Wednesday, June 21st. Atlantic Securities lowered Hess Corporation from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $45.00 in a report on Tuesday, June 27th. Wolfe Research upgraded shares of Hess Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, April 10th. Scotiabank set a $53.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a research report on Tuesday, May 16th. Finally, Barclays PLC reiterated a “hold” rating and set a $61.00 price target (down from $64.00) on shares of Hess Corporation in a research report on Friday, April 14th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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.
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