First Quadrant LP CA Has $1698000 Stake in Hess Corporation (NYSE:HES)

Paterniano Del Favero
Luglio 27, 2017

Municipal Employees Retirement System of Michigan's holdings in Hess Corporation were worth $417,000 as of its most recent filing with the SEC. It dropped, as 50 investors sold HES shares while 203 reduced holdings. The dividend payment was $0.250 per share for the quarter or $1.00 on an annualized basis. Bollard Group LLC boosted its position in Hess Corporation by 0.5% in the first quarter.

The oil and gas producer posted revenue of $1.23 billion in the period, topping Street forecasts. Levin Capital Strategies L.P. now owns 3,242,044 shares of the oil and gas producer's stock valued at $156,299,000 after buying an additional 1,310,706 shares in the last quarter. The firm owned 8,650 shares of the oil and gas producer's stock at the end of the first quarter. Finally, Assetmark Inc. boosted its position in Hess Corporation by 3.2% in the first quarter. Hess Corporation (NYSE:HES) shares have been recently spotted -30.95% away from the 52-week high, and 13.49% away from the 52-week low mark. The stock rose 3.58% or $1.58 reaching $45.71 per share. Company shares have been seen trading -22.77% off of the 52 week high and 38.10% away from the 52 week low. The firm has a 50 day moving average price of $43.52 and a 200 day moving average price of $48.87. RBC Capital Markets maintained Raytheon Company (NYSE:RTN) on Friday, July 7 with "Buy" rating.

Hess Corporation (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.32) by $0.14.

Hess's revenue fell to $1.23 billion from $1.27 billion.

As of the last earnings report the EPS was $-19.12 and is estimated to be $-4.32 for the current year with 313,899,000 shares now outstanding.

On 6/6/2017 announced a quarterly dividend of $0.25 2.23% with an ex dividend date of 6/14/2017 which will be payable on 6/16/2017. Stockholders of record on Friday, June 16th were paid a $0.25 dividend. This dividend represents a yeild of $2.30 which is the dividend as a percentage of the current share price. Hess Corporation's dividend payout ratio is presently -5.23%. Howland Cap Management Lc invested in 0.05% or 3,862 shares. The original version of this piece can be read at https://weekherald.com/2017/07/25/hess-corporation-nysehes-receiving-somewhat-favorable-news-coverage-study-finds.html. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of USA & worldwide copyright and trademark legislation.

WARNING: "Municipal Employees Retirement System of Michigan Has $417,000 Stake in Hess Corporation (NYSE:HES)" was first reported by Community Financial News and is the sole property of of Community Financial News.

Several other research firms have also recently weighed in on HES. ValuEngine upgraded shares of Hess Corporation from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Wolfe Research downgraded Hess Corporation from an "outperform" rating to a "market perform" rating in a research report on Monday, July 17th. Deutsche Bank maintained the shares of RTN in report on Friday, October 28 with "Hold" rating. Hess Corp (Call) now has $14.76 billion valuation. KLR Group restated a "buy" rating and set a $60.00 price objective (up previously from $58.00) on shares of Hess Corporation in a report on Saturday, April 29th.

These are 1 Sell Rating, 9 Hold Ratings, 7 Buy Ratings.

Hess Corporation had its " rating reiterated by analysts at Barclays.

Hess slightly lowers its FY 2017 E&P capital and exploratory expenditures forecast to $2.15B from original guidance of $2.25B, making it the second major USA oil producer after Anadarko Petroleum to cut 2017 capex. The Bakken Midstream segment provides fee-based services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of NGLs, transportation of crude oil by rail vehicle, terminaling and loading crude oil and NGLs, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota.

For Q2, Hess says total production was 294K boe/day (excluding Libya), down 6% Y/Y but beating guidance, with Bakken production coming in at 108K boe/day. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

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