Sir Capital Management Lowers stake in Hess Corp. (HES)

Hess Corp. (HES) : Sir Capital Management reduced its stake in Hess Corp. by 55.06% during the most recent quarter end. The investment management company now holds a total of 405,926 shares of Hess Corp. which is valued at $22,845,515 after selling 497,374 shares in Hess Corp. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Hess Corp. makes up approximately 3.26% of Sir Capital Management’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co boosted its stake in HES in the latest quarter, The investment management firm added 64 additional shares and now holds a total of 1,946 shares of Hess Corp. which is valued at $109,521.Nomura Asset Management Co Ltd reduced its stake in HES by selling 500 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 45,253 shares of HES which is valued at $2,546,839. Hess Corp. makes up approx 0.05% of Nomura Asset Management Co Ltd’s portfolio. Giovine Capital Group sold out all of its stake in HES during the most recent quarter. The investment firm sold 54,340 shares of HES which is valued $3,058,255.

Hess Corp. closed down -0.99 points or -1.82% at $53.31 with 37,76,731 shares getting traded on Thursday. Post opening the session at $53.75, the shares hit an intraday low of $52.76 and an intraday high of $54.2184 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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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