Whittier Trust Co. of Nevada Inc. continued to hold its position in shares of Hess Corp. (NYSE:HES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,180 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Hess Corp. were worth $131,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in HES. Rafferty Asset Management LLC bought a new position in shares of Hess Corp. during the first quarter worth about $1,062,000. State Street Corp raised its position in Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock valued at $719,757,000 after buying an additional 1,216,695 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Hess Corp. by 31.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,131 shares of the company’s stock valued at $2,534,000 after buying an additional 11,423 shares during the period. NWQ Investment Management Company LLC raised its position in Hess Corp. by 27.1% in the first quarter. NWQ Investment Management Company LLC now owns 1,486,489 shares of the company’s stock valued at $78,264,000 after buying an additional 317,298 shares during the period. Finally, AMF Pensionsforsakring AB raised its position in Hess Corp. by 96.3% in the first quarter. AMF Pensionsforsakring AB now owns 952,731 shares of the company’s stock valued at $50,161,000 after buying an additional 467,488 shares during the period. Hedge funds and other institutional investors own 82.92% of the company’s stock.
Shares of Hess Corp. (NYSE:HES) traded down 0.69% during trading on Thursday, reaching $51.60. The company’s stock had a trading volume of 2,450,958 shares. The stock’s 50 day moving average price is $51.24 and its 200 day moving average price is $55.47. The company’s market cap is $16.16 billion. Hess Corp. has a 52 week low of $32.41 and a 52 week high of $64.08.
Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The business earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned ($0.52) EPS. Hess Corp.’s quarterly revenue was down 34.4% compared to the same quarter last year. Equities research analysts predict that Hess Corp. will post ($4.87) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a $0.25 dividend. The ex-dividend date was Thursday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. Hess Corp.’s dividend payout ratio is presently -9.60%.
Several equities analysts have recently weighed in on the stock. Simmons restated an “overweight” rating on shares of Hess Corp. in a research report on Thursday, August 11th. Barclays PLC restated an “equal weight” rating and set a $64.00 price objective on shares of Hess Corp. in a research report on Monday. Zacks Investment Research lowered shares of Hess Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Credit Suisse Group AG restated a “hold” rating and set a $66.00 price objective on shares of Hess Corp. in a research report on Thursday, July 28th. Finally, Nomura restated a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $61.09.
In related news, COO Gregory P. Hill sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $55.99, for a total value of $839,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.83% of the stock is owned by corporate insiders.
About Hess Corp.
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.