Holowesko Partners Ltd. Exits Position in Hess Corp. (HES)

Hess Corp. (HES) : Holowesko Partners Ltd. has sold out all of its stake in Hess Corp. during the most recent quarter, according to the disclosure filed by the company on Aug 9, 2016 with the SEC. The investment management company has sold out 662,000 shares of Hess Corp. which is valued at $37,019,040.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp reduced its stake in HES by selling 527,615 shares or 18.61% in the most recent quarter. The Hedge Fund company now holds 2,308,144 shares of HES which is valued at $129,071,412. Hess Corp. makes up approx 0.07% of Dimensional Fund Advisors Lp’s portfolio.I.g. Investment Management Ltd. boosted its stake in HES in the latest quarter, The investment management firm added 8,990 additional shares and now holds a total of 83,950 shares of Hess Corp. which is valued at $4,587,028. Hess Corp. makes up approx 0.02% of I.g. Investment Management Ltd.’s portfolio.Manning Napier Advisors reduced its stake in HES by selling 22,746 shares or 53.07% in the most recent quarter. The Hedge Fund company now holds 20,114 shares of HES which is valued at $1,099,029. Hess Corp. makes up approx 0.01% of Manning Napier Advisors’s portfolio.Huntington National Bank boosted its stake in HES in the latest quarter, The investment management firm added 34 additional shares and now holds a total of 244 shares of Hess Corp. which is valued at $12,590.Guinness Asset Management Ltd reduced its stake in HES by selling 12,900 shares or 6.3% in the most recent quarter. The Hedge Fund company now holds 191,702 shares of HES which is valued at $9,891,823. Hess Corp. makes up approx 2.71% of Guinness Asset Management Ltd’s portfolio.

Hess Corp. opened for trading at $56.57 and hit $56.9 on the upside on Wednesday, eventually ending the session at $56.7, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 26,09,575 shares. Company has a market cap of $17,955 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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