BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in Hess Corp. (NYSE:HES) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 427,006 shares of the oil and gas producer’s stock after selling 20,827 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.14% of Hess worth $27,145,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in Hess by 66.0% in the first quarter. FMR LLC now owns 31,017,189 shares of the oil and gas producer’s stock worth $1,868,166,000 after acquiring an additional 12,335,629 shares in the last quarter. Primecap Management Co. CA grew its position in Hess by 0.5% in the first quarter. Primecap Management Co. CA now owns 8,332,535 shares of the oil and gas producer’s stock worth $501,869,000 after acquiring an additional 39,500 shares in the last quarter. Northern Trust Corp grew its position in Hess by 1.8% in the first quarter. Northern Trust Corp now owns 3,321,478 shares of the oil and gas producer’s stock worth $200,052,000 after acquiring an additional 58,618 shares in the last quarter. Geode Capital Management LLC grew its position in Hess by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,244,017 shares of the oil and gas producer’s stock worth $131,146,000 after acquiring an additional 127,569 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Hess by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,452,944 shares of the oil and gas producer’s stock worth $99,348,000 after buying an additional 31,800 shares during the period. Hedge funds and other institutional investors own 96.84% of the company’s stock.
HES opened at $59.56 on Friday. The stock has a market capitalization of $19.47 billion, a PE ratio of -80.49 and a beta of 1.97. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Hess Corp. has a 1-year low of $35.59 and a 1-year high of $74.81. The firm has a 50-day moving average price of $61.21 and a two-hundred day moving average price of $60.50.Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. Hess had a net margin of 1.09% and a return on equity of 0.46%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) EPS. On average, research analysts predict that Hess Corp. will post -0.4 EPS for the current year.
In other news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of Hess stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total value of $417,699.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael R. Turner sold 11,258 shares of Hess stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.71, for a total transaction of $694,731.18. The disclosure for this sale can be found here. Insiders have sold a total of 48,908 shares of company stock worth $3,090,015 in the last three months. 12.22% of the stock is owned by insiders.
Several research firms recently issued reports on HES. MKM Partners raised shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, May 28th. Piper Jaffray Companies set a $61.00 price target on shares of Hess and gave the company a “hold” rating in a report on Friday, August 16th. Morgan Stanley set a $69.00 price target on shares of Hess and gave the company a “buy” rating in a report on Monday, June 24th. Capital One Financial raised shares of Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $70.08.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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