Guinness Asset Management Ltd buys $11,697,096 stake in Hess Corp. (HES)

Hess Corp. (HES) : Guinness Asset Management Ltd scooped up 59,800 additional shares in Hess Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 204,602 shares of Hess Corp. which is valued at $11,697,096.Hess Corp. makes up approximately 3.46% of Guinness Asset Management Ltd’s portfolio.

Hess Corp. closed down -0.55 points or -0.95% at $57.17 with 45,78,221 shares getting traded on Friday. Post opening the session at $57.25, the shares hit an intraday low of $56.59 and an intraday high of $57.58 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in HES in the latest quarter, The investment management firm added 13,827 additional shares and now holds a total of 71,240 shares of Hess Corp. which is valued at $4,072,791. Hess Corp. makes up approx 0.09% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Central Trust Co boosted its stake in HES in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 11,041 shares of Hess Corp. which is valued at $631,214. Hess Corp. makes up approx 0.05% of Central Trust Co’s portfolio. Central Bank Trust Co added HES to its portfolio by purchasing 201 company shares during the most recent quarter which is valued at $11,491.

On the company’s financial health, Hess Corp. reported $-1.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $-1.47. The company had revenue of $1387.00 million for the quarter, compared to analysts expectations of $1528.09 million. The company’s revenue was down -45.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Hess Corp.. Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 54 from a previous price target of $48 .Hess Corp. was Upgraded by Atlantic Equities to ” Overweight” on Mar 22, 2016. Hess Corp. was Upgraded by Goldman to ” Buy” on Feb 10, 2016.

Hess Corporation (Hess) is an exploration and production (E&P) company that develops produces purchases transports and sells crude oil and natural gas. Its production operations are located primarily in the United States Denmark Equatorial Guinea the Joint Development Area of Malaysia/Thailand Malaysia and Norway. The Company’s production in the United States was from offshore properties in the Gulf of Mexico and onshore properties in the Bakken oil shale play in the Williston Basin of North Dakota the Permian Basin of Texas and the Utica Basin of Ohio. Approximately 16% of the Company’s crude oil and natural gas liquids production and 7% of its natural gas production were from European operations. Approximately 22% of the Company’s crude oil and natural gas liquids production were from its African operations. Approximately 1% of the Company’s crude oil and natural gas liquids production and 61% of its natural gas production were from its Asian and Other operations.

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