World Asset Management Inc increased its position in shares of Hess Corp. (NYSE:HES) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,240 shares of the oil and gas producer’s stock after buying an additional 2,773 shares during the period. World Asset Management Inc’s holdings in Hess Corp. were worth $1,554,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strs Ohio increased its position in Hess Corp. by 199.2% in the third quarter. Strs Ohio now owns 34,440 shares of the oil and gas producer’s stock worth $1,846,000 after buying an additional 22,931 shares during the period. Shell Asset Management Co. increased its stake in shares of Hess Corp. by 0.5% in the third quarter. Shell Asset Management Co. now owns 22,791 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 120 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Hess Corp. during the third quarter valued at approximately $242,000. Alambic Investment Management L.P. acquired a new stake in shares of Hess Corp. during the third quarter valued at approximately $316,000. Finally, Wells Fargo & Company MN boosted its position in Hess Corp. by 22.0% in the third quarter. Wells Fargo & Company MN now owns 2,424,447 shares of the oil and gas producer’s stock worth $129,998,000 after buying an additional 437,426 shares during the period. 84.38% of the stock is currently owned by institutional investors.
Shares of Hess Corp. (HES) opened at 46.11 on Tuesday. The firm has a 50-day moving average of $48.03 and a 200-day moving average of $52.80. The company’s market capitalization is $14.47 billion. Hess Corp. has a 12 month low of $45.12 and a 12 month high of $65.56.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.03. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.34 billion. Hess Corp. had a negative net margin of 126.59% and a negative return on equity of 7.51%. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.72) earnings per share. On average, equities analysts predict that Hess Corp. will post ($3.59) earnings per share for the current year. A number of research firms have issued reports on HES. ValuEngine upgraded Hess Corp. from a “strong sell” rating to a “sell” rating in a report on Friday. Bank of America Corp restated a “buy” rating and issued a $80.00 price objective on shares of Hess Corp. in a report on Friday, April 14th. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 target price on shares of Hess Corp. in a research note on Monday, May 15th. Wells Fargo & Co upgraded shares of Hess Corp. from a “market perform” rating to an “outperform” rating and cut their target price for the company from $46.13 to $45.84 in a research note on Friday, May 5th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc downgraded shares of Hess Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $69.00 to $58.00 in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $57.82.
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