Hess Corp. (HES) : Guinness Atkinson Asset Management Inc reduced its stake in Hess Corp. by 9.22% during the most recent quarter end. The investment management company now holds a total of 29,543 shares of Hess Corp. which is valued at $1,524,419 after selling 3,000 shares in Hess Corp. , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Hess Corp. makes up approximately 0.91% of Guinness Atkinson Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Shell Asset Management Co boosted its stake in HES in the latest quarter, The investment management firm added 8,180 additional shares and now holds a total of 22,671 shares of Hess Corp. which is valued at $1,169,824. Hess Corp. makes up approx 0.03% of Shell Asset Management Co’s portfolio.Hermes Investment Management Ltd boosted its stake in HES in the latest quarter, The investment management firm added 92,400 additional shares and now holds a total of 1,018,119 shares of Hess Corp. which is valued at $55,100,600. Hess Corp. makes up approx 1.07% of Hermes Investment Management Ltd’s portfolio.Hartford Investment Management Co reduced its stake in HES by selling 1,953 shares or 3.0% in the most recent quarter. The Hedge Fund company now holds 63,069 shares of HES which is valued at $3,413,294. Hess Corp. makes up approx 0.07% of Hartford Investment Management Co’s portfolio.Carroll Financial Associates boosted its stake in HES in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 978 shares of Hess Corp. which is valued at $55,120. Hess Corp. makes up approx 0.01% of Carroll Financial Associates’s portfolio.Factory Mutual Insurance Co reduced its stake in HES by selling 198,000 shares or 43.71% in the most recent quarter. The Hedge Fund company now holds 255,000 shares of HES which is valued at $14,795,100. Hess Corp. makes up approx 0.19% of Factory Mutual Insurance Co’s portfolio.
Hess Corp. opened for trading at $51.41 and hit $53.82 on the upside on Friday, eventually ending the session at $53.65, with a gain of 2.84% or 1.48 points. The heightened volatility saw the trading volume jump to 40,98,012 shares. Company has a market cap of $16,992 M.
On the company’s financial health, Hess Corp. reported $-1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-1.24. The company had revenue of $1269.00 million for the quarter, compared to analysts expectations of $1012.50 million. The company’s revenue was down -34.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.52 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 .
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.