HighTower Advisors LLC raised its holdings in shares of Hess Corporation (NYSE:HES) by 71.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,479 shares of the oil and gas producer’s stock after acquiring an additional 8,097 shares during the quarter. HighTower Advisors LLC’s holdings in Hess Corporation were worth $859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Condor Capital Management grew its stake in shares of Hess Corporation by 0.3% during the 2nd quarter. Condor Capital Management now owns 13,579 shares of the oil and gas producer’s stock worth $596,000 after acquiring an additional 39 shares in the last quarter. Welch & Forbes LLC grew its stake in shares of Hess Corporation by 1.0% during the 2nd quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 46 shares in the last quarter. Bollard Group LLC grew its stake in shares of Hess Corporation by 0.6% during the 2nd quarter. Bollard Group LLC now owns 10,462 shares of the oil and gas producer’s stock worth $459,000 after acquiring an additional 62 shares in the last quarter. Conning Inc. grew its stake in shares of Hess Corporation by 1.3% during the 2nd quarter. Conning Inc. now owns 7,687 shares of the oil and gas producer’s stock worth $337,000 after acquiring an additional 99 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of Hess Corporation by 0.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 15,330 shares of the oil and gas producer’s stock worth $673,000 after acquiring an additional 107 shares in the last quarter. 87.20% of the stock is owned by institutional investors.

In other news, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 3,873 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here. Insiders have sold a total of 21,599 shares of company stock valued at $873,466 in the last quarter. 11.80% of the stock is owned by corporate insiders.

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Several equities analysts have recently weighed in on HES shares. BMO Capital Markets set a $55.00 price target on shares of Hess Corporation and gave the stock a “hold” rating in a research note on Saturday, June 17th. Capital One Financial Corporation cut shares of Hess Corporation from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $65.00 to $50.00 in a research note on Wednesday, June 21st. Scotiabank set a $53.00 price target on shares of Hess Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Atlantic Securities cut shares of Hess Corporation from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $45.00 in a research note on Tuesday, June 27th. Finally, BidaskClub raised shares of Hess Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Hess Corporation presently has an average rating of “Hold” and an average price target of $51.92.

Shares of Hess Corporation (HES) opened at 44.99 on Friday. The firm’s market cap is $14.14 billion. Hess Corporation has a one year low of $37.25 and a one year high of $65.56. The firm’s 50-day moving average price is $42.93 and its 200 day moving average price is $44.67.

Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Hess Corporation had a negative net margin of 118.07% and a negative return on equity of 8.49%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.10) EPS. Analysts predict that Hess Corporation will post ($4.78) EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. Hess Corporation’s payout ratio is -5.18%.

Hess Corporation Company Profile

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Institutional Ownership by Quarter for Hess Corporation (NYSE:HES)

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