Traders sold shares of Hess Corporation (NYSE:HES) on strength during trading hours on Wednesday after an insider sold shares in the company. $39.24 million flowed into the stock on the tick-up and $75.95 million flowed out of the stock on the tick-down, for a money net flow of $36.71 million out of the stock. Of all stocks tracked, Hess Corporation had the 0th highest net out-flow for the day. Hess Corporation traded up $0.03 for the day and closed at $51.54Specifically, COO Gregory P. Hill sold 2,951 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $51.78, for a total transaction of $152,802.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John B. Hess sold 43,711 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $53.77, for a total value of $2,350,340.47. The disclosure for this sale can be found here. Insiders sold 51,774 shares of company stock valued at $2,777,095 in the last quarter. Corporate insiders own 11.83% of the company’s stock.
Several equities analysts have recently issued reports on HES shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Hess Corporation in a research note on Monday, October 31st. J P Morgan Chase & Co raised Hess Corporation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $58.00 to $65.00 in a research note on Thursday, December 8th. Finally, KLR Group boosted their target price on Hess Corporation from $62.00 to $68.00 and gave the company an “accumulate” rating in a research note on Tuesday, December 13th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Hess Corporation currently has an average rating of “Buy” and a consensus target price of $63.98.
The stock’s market cap is $16.15 billion. The firm’s 50-day moving average price is $58.69 and its 200-day moving average price is $54.42.
Hess Corporation (NYSE:HES) last released its quarterly earnings data on Wednesday, January 25th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.07. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.23 billion. Hess Corporation had a negative return on equity of 7.51% and a negative net margin of 126.59%. Hess Corporation’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted ($1.40) EPS. On average, analysts forecast that Hess Corporation will post ($3.02) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC increased its position in shares of Hess Corporation by 27.3% in the third quarter. SevenBridge Financial Group LLC now owns 2,039 shares of the company’s stock worth $105,000 after buying an additional 437 shares in the last quarter. CKW Financial Group bought a new position in shares of Hess Corporation during the third quarter worth about $118,000. MSI Financial Services Inc increased its position in shares of Hess Corporation by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock worth $144,000 after buying an additional 1,410 shares in the last quarter. Advisor Group Inc. increased its position in shares of Hess Corporation by 9.1% in the third quarter. Advisor Group Inc. now owns 4,308 shares of the company’s stock worth $215,000 after buying an additional 360 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new position in shares of Hess Corporation during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 83.82% of the company’s stock.
Hess Corporation Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.