Price Michael F Lowers stake in Hess Corp. (HES)

Hess Corp. (HES) : Price Michael F reduced its stake in Hess Corp. by 7.02% during the most recent quarter end. The investment management company now holds a total of 530,000 shares of Hess Corp. which is valued at $29,828,400 after selling 40,000 shares in Hess Corp. , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Hess Corp. makes up approximately 3.79% of Price Michael F’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in HES by selling 18,041 shares or 11.03% in the most recent quarter. The Hedge Fund company now holds 145,596 shares of HES which is valued at $8,194,143. Hess Corp. makes up approx 0.06% of Cornerstone Capital Management Holdings.’s portfolio.Bnp Paribas Investment Partners S.a. reduced its stake in HES by selling 51,035 shares or 10.93% in the most recent quarter. The Hedge Fund company now holds 416,066 shares of HES which is valued at $23,524,372. Hess Corp. makes up approx 0.20% of Bnp Paribas Investment Partners S.a.’s portfolio.First Trust Advisors Lp reduced its stake in HES by selling 347,924 shares or 39.36% in the most recent quarter. The Hedge Fund company now holds 536,102 shares of HES which is valued at $29,292,613. Hess Corp. makes up approx 0.09% of First Trust Advisors Lp’s portfolio.

Hess Corp. closed down -0.25 points or -0.44% at $56.42 with 23,23,918 shares getting traded on Monday. Post opening the session at $56.45, the shares hit an intraday low of $55.86 and an intraday high of $56.5799 and the price fluctuated in this range throughout the day.Shares ended Monday 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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