Hess Corporation (HES) Shares Sold by Eaton Vance Management
Eaton Vance Management lowered its stake in shares of Hess Corporation (NYSE:HES) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 68,163 shares of the oil and gas producer’s stock after selling 660 shares during the period. Eaton Vance Management’s holdings in Hess Corporation were worth $2,990,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in HES. Advisors Asset Management Inc. raised its position in shares of Hess Corporation by 8.5% during the first quarter. Advisors Asset Management Inc. now owns 14,422 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 1,131 shares during the last quarter. US Bancorp DE raised its position in shares of Hess Corporation by 2.2% during the first quarter. US Bancorp DE now owns 31,936 shares of the oil and gas producer’s stock valued at $1,540,000 after buying an additional 685 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Hess Corporation by 8.7% during the first quarter. UBS Asset Management Americas Inc. now owns 2,387,346 shares of the oil and gas producer’s stock valued at $115,094,000 after buying an additional 190,166 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Hess Corporation during the first quarter valued at about $3,648,000. Finally, Sei Investments Co. raised its position in shares of Hess Corporation by 7.5% during the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock valued at $6,270,000 after buying an additional 9,101 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.
Shares of Hess Corporation (NYSE:HES) opened at 42.17 on Monday. The firm’s 50-day moving average is $40.84 and its 200 day moving average is $45.19. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The company’s market capitalization is $13.26 billion.
Hess Corporation (NYSE:HES) last issued 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 firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. Hess Corporation’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. On average, analysts anticipate that Hess Corporation will post ($4.80) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, September 15th. Hess Corporation’s payout ratio is presently -5.18%.
Several research analysts recently issued reports on the stock. BMO Capital Markets set a $55.00 price target on shares of Hess Corporation and gave the stock 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 stock 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, September 12th. Morgan Stanley reissued an “equal weight” rating on shares of Hess Corporation in a research report on Saturday. Finally, J P Morgan Chase & Co lowered shares of Hess Corporation from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $45.00 in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $52.13.
In other news, COO Gregory P. Hill sold 11,726 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total value of $449,926.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were 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 currently owned by insiders.
Hess Corporation 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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