Daiwa Securities Group Inc. Continues to Hold Position in Hess Corporation (HES)
Daiwa Securities Group Inc. held its stake in Hess Corporation (NYSE:HES) during the second quarter, Holdings Channel reports. The firm owned 7,850 shares of the oil and gas producer’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Hess Corporation were worth $344,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its stake in Hess Corporation by 73.9% in the first quarter. Great West Life Assurance Co. Can now owns 424,417 shares of the oil and gas producer’s stock worth $20,508,000 after buying an additional 180,409 shares during the last quarter. Sei Investments Co. increased its stake in Hess Corporation by 7.5% in the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock worth $6,270,000 after buying an additional 9,101 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Hess Corporation during the first quarter worth $268,000. Chevy Chase Trust Holdings Inc. increased its stake in Hess Corporation by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 235,633 shares of the oil and gas producer’s stock worth $10,337,000 after buying an additional 772 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Hess Corporation by 4.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 97,344 shares of the oil and gas producer’s stock worth $4,692,000 after buying an additional 4,124 shares during the last quarter. 86.32% of the stock is owned by institutional investors and hedge funds.
Shares of Hess Corporation (NYSE HES) opened at 40.70 on Wednesday. Hess Corporation has a 1-year low of $39.78 and a 1-year high of $65.56. The company’s market capitalization is $12.80 billion. The firm has a 50-day moving average price of $43.21 and a 200-day moving average price of $47.13.
Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned ($1.10) earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Hess Corporation will post ($4.76) earnings per share for the current year.
HES has been the subject of a number of research reports. Scotiabank set a $53.00 price objective on shares of Hess Corporation and gave the stock a “buy” rating in a report on Tuesday, June 20th. KLR Group reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Hess Corporation in a report on Saturday, April 29th. Citigroup Inc. decreased their price objective on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, July 21st. BidaskClub raised shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Zacks Investment Research downgraded shares of Hess Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.06.
In other Hess Corporation news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 11.80% of the company’s stock.
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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