Wells Fargo & Company MN increased its position in shares of Hess Corp. (NYSE:HES) by 22.0% during the third quarter, Holdings Channel reports. The firm owned 2,424,447 shares of the company’s stock after buying an additional 437,426 shares during the period. Wells Fargo & Company MN’s holdings in Hess Corp. were worth $129,998,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd bought a new stake in shares of Hess Corp. during the second quarter worth about $155,000. MSI Financial Services Inc raised its stake 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 worth $144,000 after buying an additional 1,410 shares during the period. Advisor Partners LLC bought a new stake in shares of Hess Corp. during the second quarter worth about $212,000. BOKF NA raised its stake in shares of Hess Corp. by 27.4% in the second quarter. BOKF NA now owns 3,542 shares of the company’s stock worth $212,000 after buying an additional 761 shares during the period. Finally, Advisor Group Inc. bought a new stake in shares of Hess Corp. during the second quarter worth about $236,000. 82.93% of the stock is owned by institutional investors and hedge funds.
Hess Corp. (NYSE:HES) opened at 58.83 on Thursday. Hess Corp. has a 52 week low of $34.02 and a 52 week high of $65.56. The stock’s market cap is $18.43 billion. The stock’s 50 day moving average price is $61.60 and its 200 day moving average price is $54.58.
Hess Corp. (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($1.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted ($1.03) EPS. The company’s quarterly revenue was down 29.2% on a year-over-year basis. On average, analysts forecast that Hess Corp. will post ($5.07) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, December 15th. Hess Corp.’s dividend payout ratio (DPR) is presently -9.47%.
A number of research firms have recently commented on HES. JPMorgan Chase & Co. upgraded Hess Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $58.00 to $65.00 in a research report on Thursday, December 8th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Hess Corp. in a research report on Monday, October 31st. KLR Group increased their target price on Hess Corp. from $62.00 to $68.00 and gave the company an “accumulate” rating in a research report on Tuesday, December 13th. Nomura reiterated a “hold” rating and set a $56.00 target price on shares of Hess Corp. in a research report on Monday, October 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and set a $64.00 target price on shares of Hess Corp. in a research report on Monday, October 10th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.48.
In other news, COO Gregory P. Hill sold 2,951 shares of the company’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $51.78, for a total value of $152,802.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian D. Truelove sold 5,000 shares of the company’s stock in a transaction on Friday, November 4th. The shares were 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. 11.83% of the stock is owned by insiders.
Hess Corp. 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.
Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Corp. (NYSE:HES).