Toronto Dominion Bank reduced its holdings in shares of Hess Corp. (NYSE:HES) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,636 shares of the oil and gas producer’s stock after selling 17,130 shares during the period. Toronto Dominion Bank owned about 0.05% of Hess worth $9,701,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in shares of Hess by 66.0% during 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 acquiring an additional 12,335,629 shares in the last quarter. Primecap Management Co. CA boosted its position in Hess by 0.5% in the first quarter. Primecap Management Co. CA now owns 8,332,535 shares of the oil and gas producer’s stock valued at $501,869,000 after buying an additional 39,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hess by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 6,114,101 shares of the oil and gas producer’s stock valued at $388,672,000 after buying an additional 599,520 shares in the last quarter. Northern Trust Corp boosted its position in Hess by 1.3% in the second quarter. Northern Trust Corp now owns 3,366,311 shares of the oil and gas producer’s stock valued at $213,996,000 after buying an additional 44,833 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Hess by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,244,017 shares of the oil and gas producer’s stock valued at $131,146,000 after buying an additional 127,569 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.
In other Hess news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total value of $417,699.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 142,109 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $65.11, for a total transaction of $9,252,716.99. Following the completion of the transaction, the chief executive officer now directly owns 1,562,015 shares of the company’s stock, valued at $101,702,796.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,961 shares of company stock valued at $13,444,235. Insiders own 12.22% of the company’s stock.
HES has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of Hess in a research report on Monday, August 19th. They issued an “overweight” rating and a $93.00 price target on the stock. Piper Jaffray Companies set a $61.00 price target on shares of Hess and gave the company a “hold” rating in a research report on Friday, August 16th. Morgan Stanley set a $69.00 price target on shares of Hess and gave the company a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Co restated a “buy” rating on shares of Hess in a research report on Wednesday, July 31st. Finally, MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.08.
Shares of NYSE HES traded down $0.01 during trading on Friday, reaching $63.22. The company had a trading volume of 2,534,997 shares, compared to its average volume of 2,857,959. Hess Corp. has a 52 week low of $35.59 and a 52 week high of $74.81. The stock has a market cap of $19.33 billion, a PE ratio of -85.43 and a beta of 1.98. 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 business’s 50 day moving average price is $61.62 and its 200-day moving average price is $61.19.
Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a net margin of 1.09% and a return on equity of 0.46%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted ($0.23) earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Equities analysts anticipate that Hess Corp. will post -0.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, September 13th. Hess’s dividend payout ratio is presently -135.14%.
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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