Investors Sell Hess Corporation (HES) on Strength (HES)
Investors sold shares of Hess Corporation (NYSE:HES) on strength during trading on Wednesday. $33.94 million flowed into the stock on the tick-up and $57.81 million flowed out of the stock on the tick-down, for a money net flow of $23.87 million out of the stock. Of all companies tracked, Hess Corporation had the 22nd highest net out-flow for the day. Hess Corporation traded up $0.71 for the day and closed at $42.13
Several brokerages recently weighed in on HES. BMO Capital Markets set a $55.00 price target on shares of Hess Corporation and gave the company a “hold” rating in a research report on Saturday, June 17th. Scotiabank set a $50.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of Hess Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $47.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Hess Corporation has a consensus rating of “Hold” and an average target price of $53.56.
The firm’s 50-day moving average price is $41.02 and its 200-day moving average price is $45.31. The stock’s market cap is $13.25 billion.
Hess Corporation (NYSE:HES) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.10) EPS. On average, equities analysts expect that Hess Corporation will post ($4.83) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. Hess Corporation’s payout ratio is currently -5.18%.
In other news, COO Gregory P. Hill sold 11,726 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total value of $449,926.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. 11.80% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Independence Advisors LLC purchased a new stake in Hess Corporation during the second quarter worth $230,000. D Orazio & Associates Inc. boosted its holdings in Hess Corporation by 266.7% during the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Hess Corporation during the first quarter worth $111,000. State of Alaska Department of Revenue purchased a new stake in Hess Corporation during the first quarter worth $114,000. Finally, Korea Investment CORP boosted its holdings in Hess Corporation by 142.0% during the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 1,552 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.
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About Hess Corporation
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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