Today, Exxonmobil Investment Management Inc. TX Buys 494 Shares of Hess Corp. (HES)

Today, Exxonmobil Investment Management Inc. TX Buys 494 Shares of Hess Corp. (HES)

Exxonmobil Investment Management Inc. TX increased its stake in shares of Hess Corp. (NYSE:HES) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 68,729 shares of the company’s stock after buying an additional 494 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Hess Corp. were worth $3,685,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in HES. Vanguard Group Inc. raised its position in Hess Corp. by 2.2% in the second quarter. Vanguard Group Inc. now owns 17,291,164 shares of the company’s stock valued at $1,039,199,000 after buying an additional 370,373 shares during the period. FMR LLC raised its position in Hess Corp. by 6.5% in the second quarter. FMR LLC now owns 8,333,032 shares of the company’s stock valued at $500,815,000 after buying an additional 505,553 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Hess Corp. by 3.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,318,025 shares of the company’s stock valued at $439,813,000 after buying an additional 250,573 shares during the period. Alliancebernstein L.P. raised its position in Hess Corp. by 16.8% in the second quarter. Alliancebernstein L.P. now owns 7,274,288 shares of the company’s stock valued at $437,185,000 after buying an additional 1,045,026 shares during the period. Finally, BlackRock Fund Advisors raised its position in Hess Corp. by 2.9% in the second quarter. BlackRock Fund Advisors now owns 4,951,703 shares of the company’s stock valued at $297,597,000 after buying an additional 138,659 shares during the period. 82.92% of the stock is currently owned by hedge funds and other institutional investors.

Hess Corp. (NYSE:HES) traded down 3.28% during trading on Monday, hitting $51.00. 3,115,284 shares of the stock were exchanged. The stock’s market cap is $15.97 billion. The firm’s 50 day moving average price is $50.53 and its 200-day moving average price is $54.07. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $63.76.

Hess Corp. (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The business earned $1.20 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned ($1.03) EPS. Hess Corp.’s quarterly revenue was down 29.2% compared to the same quarter last year. On average, analysts anticipate that Hess Corp. will post ($5.07) EPS for the current year.

Several research analysts have commented on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Hess Corp. in a report on Monday, October 31st. KLR Group assumed coverage on shares of Hess Corp. in a report on Monday, September 12th. They issued an “accumulate” rating and a $65.00 target price for the company. Zacks Investment Research cut shares of Hess Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Simmons reiterated an “overweight” rating and issued a $60.00 target price (down from $64.00) on shares of Hess Corp. in a report on Sunday, July 31st. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $85.00 target price on shares of Hess Corp. in a report on Monday, August 22nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $60.57.

In related news, insider Brian D. Truelove sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $47.41, for a total value of $237,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory P. Hill sold 2,951 shares of the business’s stock in a transaction that occurred 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. 11.83% of the stock is owned by corporate insiders.

Hess Corp. 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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