Everence Capital Management Inc Lowers stake in Hess Corp. (HES)

Hess Corp. (HES) : Everence Capital Management Inc reduced its stake in Hess Corp. by 1.08% during the most recent quarter end. The investment management company now holds a total of 18,240 shares of Hess Corp. which is valued at $973,834 after selling 200 shares in Hess Corp. , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Hess Corp. makes up approximately 0.29% of Everence Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Evercore Wealth Management reduced its stake in HES by selling 364 shares or 64.54% in the most recent quarter. The Hedge Fund company now holds 200 shares of HES which is valued at $10,678.Retirement Systems Of Alabama reduced its stake in HES by selling 3,747 shares or 2.71% in the most recent quarter. The Hedge Fund company now holds 134,389 shares of HES which is valued at $6,934,472. Hess Corp. makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.Smith Asset Management Group Lp boosted its stake in HES in the latest quarter, The investment management firm added 820 additional shares and now holds a total of 1,064 shares of Hess Corp. which is valued at $54,902.British Columbia Investment Management Corp reduced its stake in HES by selling 931 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 178,075 shares of HES which is valued at $10,116,441. Hess Corp. makes up approx 0.09% of British Columbia Investment Management Corp’s portfolio.

Hess Corp. opened for trading at $53.28 and hit $55.14 on the upside on Thursday, eventually ending the session at $53.87, with a gain of 0.90% or 0.48 points. The heightened volatility saw the trading volume jump to 53,49,856 shares. Company has a market cap of $17,062 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.

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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