Hess (NYSE:HES) Shares Down 6.9%

Hess Corp. (NYSE:HES)’s stock price was down 6.9% during mid-day trading on Friday . The stock traded as low as $59.27 and last traded at $59.56, approximately 3,119,309 shares traded hands during mid-day trading. A decline of 9% from the average daily volume of 3,429,176 shares. The stock had previously closed at $63.95.

Several research analysts have recently issued reports on HES shares. Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Hess in a research report on Wednesday, July 31st. ValuEngine lowered Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Piper Jaffray Companies set a $61.00 price objective on Hess and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Barclays assumed coverage on Hess in a research report on Monday. They set an “overweight” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.08.

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 company has a market cap of $18.96 billion, a P/E ratio of -80.49 and a beta of 1.97. The stock has a 50-day moving average of $61.21 and a two-hundred day moving average of $60.50.



Hess (NYSE:HES) last issued its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Hess had a return on equity of 0.46% and a net margin of 1.09%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted ($0.23) EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Hess Corp. will post -0.4 EPS for the current year.

In other Hess news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $57.18, for a total transaction of $417,699.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael R. Turner sold 30,345 shares of the stock in a transaction on 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 sale, the insider now owns 94,537 shares in the company, valued at $6,160,976.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,908 shares of company stock worth $3,090,015. Company insiders own 12.22% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its stake in shares of Hess by 45.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 551 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 173 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Hess by 0.6% in the 2nd quarter. Baker Avenue Asset Management LP now owns 30,831 shares of the oil and gas producer’s stock worth $1,959,000 after buying an additional 173 shares during the last quarter. Securian Asset Management Inc boosted its stake in shares of Hess by 0.8% in the 2nd quarter. Securian Asset Management Inc now owns 26,345 shares of the oil and gas producer’s stock worth $1,675,000 after buying an additional 199 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Hess by 1.0% in the 2nd quarter. New Mexico Educational Retirement Board now owns 20,903 shares of the oil and gas producer’s stock worth $1,329,000 after buying an additional 200 shares during the last quarter. Finally, Hartford Investment Management Co. boosted its stake in shares of Hess by 0.7% in the 1st quarter. Hartford Investment Management Co. now owns 27,602 shares of the oil and gas producer’s stock worth $1,662,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 96.84% of the company’s stock.

Hess Company Profile (NYSE:HES)

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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