Gateway Investment Advisers LLC grew its position in shares of Hess Corp. (NYSE:HES) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,896 shares of the oil and gas producer’s stock after buying an additional 4,034 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Hess were worth $3,871,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in Hess by 66.0% in the 1st quarter. FMR LLC now owns 31,017,189 shares of the oil and gas producer’s stock valued at $1,868,166,000 after buying an additional 12,335,629 shares in the last quarter. Norges Bank purchased a new position in Hess in the 4th quarter valued at approximately $106,016,000. JPMorgan Chase & Co. grew its stake in Hess by 225.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,199,047 shares of the oil and gas producer’s stock valued at $72,220,000 after buying an additional 830,695 shares in the last quarter. Impala Asset Management LLC grew its stake in Hess by 31.3% in the 1st 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 buying an additional 557,252 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Hess by 128.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 811,209 shares of the oil and gas producer’s stock valued at $48,859,000 after buying an additional 456,211 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.
In other news, insider Michael R. Turner sold 25,170 shares of Hess stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $63.20, for a total transaction of $1,590,744.00. Following the completion of the sale, the insider now directly owns 92,812 shares of the company’s stock, valued at approximately $5,865,718.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 63,806 shares of Hess stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $66.62, for a total transaction of $4,250,755.72. The disclosure for this sale can be found here. Insiders have sold a total of 140,158 shares of company stock valued at $9,196,837 over the last ninety days. 12.22% of the stock is currently owned by insiders.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Hess had a negative net margin of 0.75% and a positive return on equity of 0.20%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Hess Corp. will post -0.23 earnings per share for the current year.
A number of research analysts recently weighed in on HES shares. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley set a $23.00 price target on shares of Cabot Oil & Gas and gave the company a “hold” rating in a research report on Monday, June 24th. Capital One Financial upgraded shares of Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 15th. MKM Partners upgraded shares of Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, May 28th. Finally, Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.46.
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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