Hess Corp. (NYSE:HES) Shares Sold by World Asset Management Inc

World Asset Management Inc decreased its holdings in shares of Hess Corp. (NYSE:HES) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,134 shares of the oil and gas producer’s stock after selling 289 shares during the quarter. World Asset Management Inc’s holdings in Hess were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its holdings in shares of Hess by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 11,444 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 201 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Hess by 0.7% during the 1st quarter. Hartford Investment Management Co. now owns 27,602 shares of the oil and gas producer’s stock valued at $1,662,000 after acquiring an additional 203 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Hess by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the oil and gas producer’s stock valued at $807,000 after acquiring an additional 300 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Hess by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 118,869 shares of the oil and gas producer’s stock valued at $7,557,000 after acquiring an additional 340 shares in the last quarter. Finally, Investec Asset Management PTY Ltd lifted its holdings in shares of Hess by 2.7% during the 1st quarter. Investec Asset Management PTY Ltd now owns 15,752 shares of the oil and gas producer’s stock valued at $959,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

A number of equities analysts have commented on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Hess in a report on Wednesday. MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, May 28th. Capital One Financial upgraded shares of Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. ValuEngine lowered shares of Hess from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded shares of Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $69.46.

In other news, insider Michael R. Turner sold 30,345 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $65.17, for a total value of $1,977,583.65. Following the completion of the sale, the insider now owns 94,537 shares of the company’s stock, valued at approximately $6,160,976.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew P. Slentz sold 2,081 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $62.52, for a total transaction of $130,104.12. Following the completion of the sale, the insider now directly owns 19,119 shares of the company’s stock, valued at approximately $1,195,319.88. The disclosure for this sale can be found here. Insiders sold a total of 140,158 shares of company stock valued at $9,196,837 in the last three months. Insiders own 12.22% of the company’s stock.

HES stock traded down $0.88 during trading on Thursday, reaching $63.96. The stock had a trading volume of 2,804,729 shares, compared to its average volume of 2,407,487. Hess Corp. has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 1.57. The firm has a market capitalization of $19.63 billion, a P/E ratio of -86.43 and a beta of 1.95. The company has a fifty day moving average of $61.27.

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, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.52 billion. Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, research analysts expect that Hess Corp. will post -0.33 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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