Hess Corp. (NYSE:HES) insider Michael R. Turner sold 30,345 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 94,537 shares of the company’s stock, valued at approximately $6,160,976.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Hess stock traded up $0.76 on Friday, reaching $60.61. 3,940,365 shares of the company were exchanged, compared to its average volume of 2,288,393. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 1.69. The stock has a 50-day moving average price of $60.18. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of -81.91 and a beta of 1.95. Hess Corp. has a 1-year low of $35.59 and a 1-year high of $74.81.
Hess (NYSE:HES) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.35. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.27) EPS. Research analysts forecast that Hess Corp. will post -0.08 earnings per share for the current year.
A number of research analysts recently commented on HES shares. Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the company a “hold” rating in a report on Monday, June 24th. MKM Partners upgraded Matador Resources from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, May 28th. Finally, ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.46.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake 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 worth $1,868,166,000 after acquiring an additional 12,335,629 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Hess by 0.5% during the 1st quarter. Primecap Management Co. CA now owns 8,332,535 shares of the oil and gas producer’s stock worth $501,869,000 after acquiring an additional 39,500 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Hess by 53.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,563,894 shares of the oil and gas producer’s stock worth $265,837,000 after acquiring an additional 2,284,770 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Hess by 1.8% during the 1st quarter. Northern Trust Corp now owns 3,321,478 shares of the oil and gas producer’s stock worth $200,052,000 after acquiring an additional 58,618 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Hess by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 3,244,017 shares of the oil and gas producer’s stock worth $131,146,000 after acquiring an additional 127,569 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.
Hess Company Profile
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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