Mutual of America Capital Management LLC Lowers Stake in Hess Corporation (HES)
Mutual of America Capital Management LLC cut its position in shares of Hess Corporation (NYSE:HES) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,621 shares of the oil and gas producer’s stock after selling 6,704 shares during the period. Mutual of America Capital Management LLC’s holdings in Hess Corporation were worth $2,001,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Hess Corporation by 4,680.2% in 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. Bank of New York Mellon Corp lifted its position in Hess Corporation by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 4,615,399 shares of the oil and gas producer’s stock worth $202,476,000 after purchasing an additional 2,117,131 shares during the period. Vanguard Group Inc. lifted its position in Hess Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 19,338,184 shares of the oil and gas producer’s stock worth $932,293,000 after purchasing an additional 1,173,577 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Hess Corporation by 31.0% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,832,180 shares of the oil and gas producer’s stock worth $184,749,000 after purchasing an additional 907,826 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Hess Corporation by 15.3% during the second quarter. Wells Fargo & Company MN now owns 3,412,774 shares of the oil and gas producer’s stock worth $149,718,000 after buying an additional 454,082 shares in the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.
Several brokerages have issued reports on HES. BMO Capital Markets set a $55.00 price target on shares of Hess Corporation and gave the company a “hold” rating in a report on Saturday, June 17th. Scotiabank set a $50.00 price objective on shares of Hess Corporation and gave the company a “buy” rating in a research note on Saturday, July 1st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess Corporation in a report on Saturday, September 16th. BidaskClub raised shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $47.00 target price on shares of Hess Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.83.
Shares of Hess Corporation (NYSE HES) opened at 45.69 on Wednesday. The company’s 50-day moving average price is $41.59 and its 200-day moving average price is $44.76. The company’s market capitalization is $14.36 billion. Hess Corporation has a 52-week low of $37.25 and a 52-week high of $65.56.
Hess Corporation (NYSE:HES) last issued its earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) 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 firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. Hess Corporation’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Hess Corporation will post ($4.81) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. Hess Corporation’s dividend payout ratio is -5.18%.
In other Hess Corporation news, COO Gregory P. Hill sold 11,726 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.47, for a total transaction of $168,359.31. The disclosure for this sale can be found here. Insiders have sold a total of 21,599 shares of company stock worth $873,466 in the last quarter. 11.80% of the stock is currently owned by company insiders.
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Hess Corporation Company Profile
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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