Hotchkis Wiley Capital Management buys $814.4 Million stake in Hess Corp. (HES)

Hess Corp. (HES) : Hotchkis Wiley Capital Management scooped up 1,782,399 additional shares in Hess Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 14,099,595 shares of Hess Corp. which is valued at $814.4 Million.Hess Corp. makes up approximately 3.47% of Hotchkis Wiley Capital Management’s portfolio.

Other Hedge Funds, Including , Chicago Equity Partners sold out all of its stake in HES during the most recent quarter. The investment firm sold 6,470 shares of HES which is valued $373,707. Group One Trading sold out all of its stake in HES during the most recent quarter. The investment firm sold 390 shares of HES which is valued $22,526.Norges Bank reduced its stake in HES by selling 366,229 shares or 13.17% in the most recent quarter. The Hedge Fund company now holds 2,415,291 shares of HES which is valued at $139.5 Million. Hess Corp. makes up approx 0.07% of Norges Bank’s portfolio.Bbva Compass Bancshares Inc reduced its stake in HES by selling 5,853 shares or 53.84% in the most recent quarter. The Hedge Fund company now holds 5,019 shares of HES which is valued at $281,817. Hess Corp. makes up approx 0.02% of Bbva Compass Bancshares Inc’s portfolio.Heartland Advisors Inc reduced its stake in HES by selling 36,222 shares or 15.24% in the most recent quarter. The Hedge Fund company now holds 201,437 shares of HES which is valued at $11.3 Million. Hess Corp. makes up approx 0.59% of Heartland Advisors Inc’s portfolio.

Hess Corp. opened for trading at $58.78 and hit $60.93 on the upside on Wednesday, eventually ending the session at $60.64, with a gain of 4.19% or 2.44 points. The heightened volatility saw the trading volume jump to 37,08,714 shares. Company has a market cap of $19,206 M.

On the company’s financial health, Hess Corp. reported $-1.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $-1.83. The company had revenue of $993.00 million for the quarter, compared to analysts expectations of $1004.80 million. The company’s revenue was down -35.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.98 EPS.

Many Wall Street Analysts have commented on Hess Corp.. Hess Corp. was Downgraded by Credit Suisse to ” Neutral” on Apr 28, 2016. Company shares were Downgraded by UBS on Apr 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Company shares were Reiterated by Scotia Howard Weil on Apr 19, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 69 from a previous price target of $59 .

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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