Linscomb & Williams Inc. lifted its stake in Hess Corporation (NYSE:HES) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,171 shares of the oil and gas producer’s stock after acquiring an additional 71 shares during the quarter. Linscomb & Williams Inc.’s holdings in Hess Corporation were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. D Orazio & Associates Inc. grew its stake in shares of Hess Corporation by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 1,600 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Hess Corporation by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 167 shares during the period. Korea Investment CORP grew its stake in shares of Hess Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 1,552 shares during the period. Lenox Wealth Advisors Inc. bought a new stake in shares of Hess Corporation in the second quarter worth approximately $132,000. Finally, Advisor Group Inc. grew its stake in shares of Hess Corporation by 9.7% in the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 362 shares during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.
Shares of Hess Corporation (NYSE HES) traded down 0.23% during mid-day trading on Wednesday, reaching $44.21. 1,018,766 shares of the company traded hands. The firm has a 50-day moving average price of $42.42 and a 200 day moving average price of $44.68. Hess Corporation has a 52 week low of $37.25 and a 52 week high of $65.56. The firm’s market capitalization is $14.05 billion.
Hess Corporation (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. Hess Corporation’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.10) EPS. On average, analysts anticipate that Hess Corporation will post ($4.81) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. Hess Corporation’s payout ratio is -5.18%.
A number of analysts have recently commented on HES shares. BMO Capital Markets reiterated a “hold” rating and issued a $42.00 price target on shares of Hess Corporation in a research note on Friday, September 1st. Citigroup Inc. reduced their price target on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Cowen and Company set a $55.00 price target on shares of Hess Corporation and gave the stock a “hold” rating in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Hess Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Capital One Financial Corporation lowered shares of Hess Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $65.00 to $50.00 in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $51.92.
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In other news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian D. Truelove sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.53, for a total transaction of $255,180.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,599 shares of company stock worth $873,466 in the last ninety days. Corporate insiders own 11.80% of the company’s stock.
Hess Corporation Company 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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