Hess Corporation (HES) Shares Bought by State Street Corp

State Street Corp grew its position in shares of Hess Corporation (NYSE:HES) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,518,364 shares of the oil and gas producer’s stock after purchasing an additional 198,888 shares during the period. State Street Corp owned approximately 4.88% of Hess Corporation worth $680,786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Hess Corporation by 4,680.2% during the first quarter. BlackRock Inc. now owns 28,963,519 shares of the oil and gas producer’s stock valued at $1,396,331,000 after purchasing an additional 28,357,619 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Hess Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 19,787,281 shares of the oil and gas producer’s stock valued at $868,068,000 after purchasing an additional 449,097 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Hess Corporation by 5.1% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 8,083,402 shares of the oil and gas producer’s stock valued at $354,619,000 after purchasing an additional 391,200 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Hess Corporation by 6.3% during the second quarter. Alliancebernstein L.P. now owns 7,027,470 shares of the oil and gas producer’s stock valued at $308,295,000 after purchasing an additional 416,608 shares in the last quarter. Finally, Capital World Investors grew its position in shares of Hess Corporation by 1.8% during the second quarter. Capital World Investors now owns 6,811,400 shares of the oil and gas producer’s stock valued at $298,816,000 after purchasing an additional 119,241 shares in the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.

A number of brokerages recently commented on HES. BMO Capital Markets set a $45.00 price target on shares of Hess Corporation and gave the company a “hold” rating in a report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess Corporation in a report on Saturday, September 16th. J P Morgan Chase & Co downgraded shares of Hess Corporation from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $45.00 in a report on Thursday, September 14th. Zacks Investment Research raised shares of Hess Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Piper Jaffray Companies set a $47.00 price target on shares of Hess Corporation and gave the company a “buy” rating in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.06.

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In related news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. Also, COO Gregory P. Hill sold 11,726 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,599 shares of company stock valued at $873,466. 11.80% of the stock is owned by corporate insiders.

Hess Corporation (HES) opened at 44.34 on Wednesday. Hess Corporation has a one year low of $37.25 and a one year high of $65.56. The company has a 50 day moving average of $42.42 and a 200-day moving average of $44.68. The company’s market cap is $13.94 billion.

Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.14). Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted ($1.10) EPS. The firm’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Hess Corporation will post ($4.81) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors 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 annualized dividend and a yield of 2.26%. Hess Corporation’s dividend payout ratio is presently -5.18%.

About Hess Corporation

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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Institutional Ownership by Quarter for Hess Corporation (NYSE:HES)

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