State Street Corp increased its position in shares of Hess Corporation (NYSE:HES) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,336,703 shares of the company’s stock after buying an additional 183,054 shares during the period. State Street Corp owned 5.53% of Hess Corporation worth $1,079,905,000 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. SevenBridge Financial Group LLC raised its stake in shares of Hess Corporation by 27.3% in the third quarter. SevenBridge Financial Group LLC now owns 2,039 shares of the company’s stock worth $105,000 after buying an additional 437 shares during the period. CKW Financial Group bought a new stake in shares of Hess Corporation during the third quarter worth about $118,000. MSI Financial Services Inc raised its stake in shares of Hess Corporation 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 Group Inc. raised its stake in shares of Hess Corporation by 9.1% in the third quarter. Advisor Group Inc. now owns 4,308 shares of the company’s stock worth $215,000 after buying an additional 360 shares during the period. Finally, Wesbanco Bank Inc. bought a new stake in shares of Hess Corporation during the fourth quarter worth about $216,000. 83.82% of the stock is owned by institutional investors and hedge funds.
Shares of Hess Corporation (NYSE:HES) traded up 0.36% during trading on Friday, hitting $52.51. The stock had a trading volume of 2,997,965 shares. The stock’s market cap is $16.45 billion. The company’s 50 day moving average price is $58.01 and its 200 day moving average price is $54.40. Hess Corporation has a 12 month low of $39.95 and a 12 month high of $65.56.
Hess Corporation (NYSE:HES) last issued its earnings results on Wednesday, January 25th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.08) by $0.07. The company earned $1.39 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Hess Corporation had a negative return on equity of 7.51% and a negative net margin of 126.59%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.40) EPS. Equities research analysts expect that Hess Corporation will post ($3.02) earnings per share for the current fiscal year.
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HES has been the subject of a number of recent research reports. KLR Group reissued a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Hess Corporation in a report on Thursday, January 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Hess Corporation in a report on Monday, October 31st. Finally, J P Morgan Chase & Co raised shares of Hess Corporation from a “neutral” rating to an “overweight” rating and raised their target price for the company from $58.00 to $65.00 in a report on Thursday, December 8th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.33.
In other Hess Corporation news, SVP Timothy B. Goodell sold 5,112 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $53.59, for a total value of $273,952.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory P. Hill sold 2,951 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.78, for a total value of $152,802.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,774 shares of company stock valued at $2,777,095. 11.83% of the stock is owned by company insiders.
Hess Corporation 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.
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