Hess Corp. (NYSE:HES) COO Gregory P. Hill sold 17,750 shares of Hess stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.94, for a total transaction of $1,259,185.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Hess stock opened at $60.13 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58. The stock has a market cap of $19.34 billion, a PE ratio of -81.26 and a beta of 1.98. Hess Corp. has a fifty-two week low of $35.59 and a fifty-two week high of $74.81. The firm’s 50-day simple moving average is $62.81 and its 200 day simple moving average is $61.70.
Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Hess had a net margin of 1.09% and a return on equity of 0.46%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, analysts predict that Hess Corp. will post -0.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, September 13th. Hess’s payout ratio is -135.14%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HES. FMR LLC boosted its stake in Hess by 66.0% in the first quarter. FMR LLC now owns 31,017,189 shares of the oil and gas producer’s stock valued at $1,868,166,000 after acquiring an additional 12,335,629 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Hess by 9,413.9% in the second quarter. Nuveen Asset Management LLC now owns 1,415,474 shares of the oil and gas producer’s stock valued at $89,982,000 after acquiring an additional 1,400,596 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hess by 225.5% in the first quarter. JPMorgan Chase & Co. now owns 1,199,047 shares of the oil and gas producer’s stock valued at $72,220,000 after purchasing an additional 830,695 shares during the period. Bank of New York Mellon Corp raised its position in shares of Hess by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 6,114,101 shares of the oil and gas producer’s stock valued at $388,672,000 after purchasing an additional 599,520 shares during the period. Finally, Impala Asset Management LLC raised its position in shares of Hess by 31.3% in the first quarter. Impala Asset Management LLC now owns 2,340,424 shares of the oil and gas producer’s stock valued at $140,964,000 after purchasing an additional 557,252 shares during the period. Hedge funds and other institutional investors own 90.10% of the company’s stock.
Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Hess from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Hess in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $61.00 target price on shares of Hess and gave the stock a “hold” rating in a research report on Friday, August 16th. Morgan Stanley set a $69.00 target price on shares of Hess and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Barclays started coverage on shares of Hess in a research report on Monday, August 19th. They set an “overweight” rating and a $93.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.50.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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