Strs Ohio raised its stake in Hess Corp. (NYSE:HES) by 199.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,440 shares of the company’s stock after buying an additional 22,931 shares during the period. Strs Ohio’s holdings in Hess Corp. were worth $1,846,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. MSI Financial Services Inc boosted its position in shares of Hess Corp. by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock valued at $144,000 after buying an additional 1,410 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in shares of Hess Corp. during the second quarter valued at $155,000. Advisor Partners LLC acquired a new position in shares of Hess Corp. during the second quarter valued at $212,000. BOKF NA boosted its position in shares of Hess Corp. by 27.4% in the second quarter. BOKF NA now owns 3,542 shares of the company’s stock valued at $212,000 after buying an additional 761 shares in the last quarter. Finally, Advisor Group Inc. acquired a new position in shares of Hess Corp. during the second quarter valued at $236,000. 82.93% of the stock is owned by institutional investors.
Hess Corp. (NYSE:HES) traded down 1.89% during midday trading on Thursday, hitting $57.72. The stock had a trading volume of 3,172,526 shares. The company has a 50-day moving average price of $61.51 and a 200-day moving average price of $54.61. Hess Corp. has a 52 week low of $34.02 and a 52 week high of $65.56. The stock’s market cap is $18.08 billion.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.12. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The firm’s quarterly revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.03) EPS. Equities analysts expect that Hess Corp. will post ($5.07) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Monday, December 19th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, December 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Hess Corp.’s dividend payout ratio (DPR) is -9.47%.
Several brokerages have recently weighed in on HES. Nomura reaffirmed a “hold” rating and set a $56.00 price target on shares of Hess Corp. in a research note on Monday, October 3rd. KLR Group raised their price target on shares of Hess Corp. from $62.00 to $68.00 and gave the stock an “accumulate” rating in a research note on Tuesday, December 13th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Hess Corp. in a research note on Monday, October 31st. JPMorgan Chase & Co. raised shares of Hess Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $58.00 to $65.00 in a research note on Thursday, December 8th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $64.00 target price on shares of Hess Corp. in a research note on Monday, October 10th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Hess Corp. has a consensus rating of “Hold” and a consensus target price of $63.48.
In related news, COO Gregory P. Hill sold 2,951 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $51.78, for a total transaction of $152,802.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian D. Truelove sold 5,000 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $47.41, for a total value of $237,050.00. The disclosure for this sale can be found here. Corporate insiders own 11.83% of the company’s stock.
About Hess Corp.
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.
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