Manning & Napier Advisors LLC increased its position in shares of Hess Corporation (NYSE:HES) by 122.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,686 shares of the oil and gas producer’s stock after buying an additional 36,740 shares during the period. Manning & Napier Advisors LLC’s holdings in Hess Corporation were worth $2,925,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Independence Advisors LLC bought a new stake in Hess Corporation during the second quarter worth about $230,000. D Orazio & Associates Inc. increased its stake in Hess Corporation by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Hess Corporation during the first quarter worth about $111,000. State of Alaska Department of Revenue bought a new stake in Hess Corporation during the first quarter worth about $114,000. Finally, Federated Investors Inc. PA increased its stake in Hess Corporation by 47.7% in the fourth quarter. Federated Investors Inc. PA now owns 2,577 shares of the oil and gas producer’s stock worth $161,000 after buying an additional 832 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
Hess Corporation (NYSE:HES) traded down 0.98% on Friday, hitting $41.33. 2,096,532 shares of the stock were exchanged. The company’s market cap is $12.99 billion. The company’s 50 day moving average price is $43.26 and its 200-day moving average price is $47.48. Hess Corporation has a one year low of $39.89 and a one year 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. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the business earned ($1.10) earnings per share. Equities research analysts predict that Hess Corporation will post ($4.75) EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. BMO Capital Markets set a $55.00 target price on shares of Hess Corporation and gave the company a “hold” rating in a report on Saturday, June 17th. Scotiabank set a $50.00 target price on shares of Hess Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Citigroup Inc. reduced their price target on shares of Hess Corporation from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $50.00 price target (down from $61.00) on shares of Hess Corporation in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.91.
In related news, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.80% of the stock is owned by company insiders.
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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