Investors Sell Shares of Hess Corporation (HES) on Strength (HES)
Traders sold shares of Hess Corporation (NYSE:HES) on strength during trading on Tuesday. $18.25 million flowed into the stock on the tick-up and $60.57 million flowed out of the stock on the tick-down, for a money net flow of $42.32 million out of the stock. Of all stocks tracked, Hess Corporation had the 8th highest net out-flow for the day. Hess Corporation traded up $0.61 for the day and closed at $40.06
HES has been the subject of a number of recent research reports. Capital One Financial Corporation lowered Hess Corporation from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock 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 decreased their price objective for the stock from $68.00 to $45.00 in a report on Tuesday, June 27th. Cowen and Company reissued a “hold” rating and set a $50.00 price objective on shares of Hess Corporation in a report on Tuesday, August 22nd. Scotiabank set a $53.00 price objective on Hess Corporation and gave the stock a “buy” rating in a report on Tuesday, May 16th. Finally, Piper Jaffray Companies set a $47.00 price objective on Hess Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Hess Corporation currently has a consensus rating of “Hold” and an average price target of $53.56.
The stock’s 50-day moving average is $41.45 and its 200-day moving average is $45.67. The firm’s market capitalization is $12.59 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 analysts’ consensus estimates of ($1.32) by $0.14. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted ($1.10) EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Hess Corporation will post ($4.79) EPS for the current year.
In other Hess Corporation news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of Hess Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total value of $168,359.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory P. Hill sold 11,726 shares of Hess Corporation stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total transaction of $449,926.62. The disclosure for this sale can be found here. Insiders own 11.80% of the company’s stock.
Large investors have recently bought and sold shares of the business. Chevy Chase Trust Holdings Inc. grew its position in Hess Corporation by 0.3% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 235,633 shares of the oil and gas producer’s stock worth $10,337,000 after purchasing an additional 772 shares during the period. Sei Investments Co. grew its position in Hess Corporation by 7.5% in the 1st quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock worth $6,270,000 after purchasing an additional 9,101 shares during the period. Two Sigma Securities LLC bought a new stake in Hess Corporation in the 1st quarter worth approximately $268,000. Cornerstone Capital Management Holdings LLC. grew its position in Hess Corporation by 4.4% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 97,344 shares of the oil and gas producer’s stock worth $4,692,000 after purchasing an additional 4,124 shares during the period. Finally, Korea Investment CORP grew its position in Hess Corporation by 142.0% in the 2nd quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after purchasing an additional 1,552 shares during the period. 87.15% of the stock is owned by institutional investors and hedge funds.
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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