Solaris Asset Management buys $3,240,016 stake in Hess Corp. (HES)

Hess Corp. (HES) : Solaris Asset Management scooped up 7,618 additional shares in Hess Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 62,791 shares of Hess Corp. which is valued at $3,240,016.Hess Corp. makes up approximately 2.31% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Strs Ohio boosted its stake in HES in the latest quarter, The investment management firm added 2,251 additional shares and now holds a total of 11,509 shares of Hess Corp. which is valued at $593,864.Partnerre Asset Management Corp boosted its stake in HES in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 1,815 shares of Hess Corp. which is valued at $104,544. Hess Corp. makes up approx 0.05% of Partnerre Asset Management Corp’s portfolio. Kistler-tiffany Companies added HES to its portfolio by purchasing 246 company shares during the most recent quarter which is valued at $13,975. Hess Corp. makes up approx 0.01% of Kistler-tiffany Companies’s portfolio.New England Research Management reduced its stake in HES by selling 300 shares or 6.98% in the most recent quarter. The Hedge Fund company now holds 4,000 shares of HES which is valued at $227,840. Hess Corp. makes up approx 0.20% of New England Research Management’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.

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