Guinness Asset Management Ltd decreased its holdings in shares of Hess Corp. (NYSE:HES) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,402 shares of the oil and gas producer’s stock after selling 18,100 shares during the quarter. Hess comprises about 2.2% of Guinness Asset Management Ltd’s investment portfolio, making the stock its 19th biggest position. Guinness Asset Management Ltd owned about 0.07% of Hess worth $10,510,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Linscomb & Williams Inc. raised its position in shares of Hess by 0.3% in the 2nd quarter. Linscomb & Williams Inc. now owns 21,171 shares of the oil and gas producer’s stock worth $929,000 after buying an additional 71 shares during the period. Nordea Investment Management AB raised its position in Hess by 0.8% in the second quarter. Nordea Investment Management AB now owns 17,889 shares of the oil and gas producer’s stock valued at $785,000 after purchasing an additional 141 shares during the period. Sentry Investment Management LLC raised its position in Hess by 1.1% in the second quarter. Sentry Investment Management LLC now owns 21,156 shares of the oil and gas producer’s stock valued at $928,000 after purchasing an additional 224 shares during the period. Earnest Partners LLC raised its position in Hess by 0.7% in the second quarter. Earnest Partners LLC now owns 40,980 shares of the oil and gas producer’s stock valued at $1,798,000 after purchasing an additional 304 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Hess by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 42,306 shares of the oil and gas producer’s stock valued at $1,857,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.
In other Hess news, CEO John B. Hess sold 93,712 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $44.29, for a total value of $4,150,504.48. Following the transaction, the chief executive officer now owns 1,885,911 shares of the company’s stock, valued at $83,526,998.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total value of $330,188.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,347 shares of company stock worth $5,157,584. 11.80% of the stock is owned by corporate insiders.
Shares of Hess Corp. (NYSE HES) opened at $44.14 on Tuesday. The firm has a market capitalization of $14,030.00, a P/E ratio of -3.36 and a beta of 1.58. The company has a current ratio of 2.53, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52. Hess Corp. has a twelve month low of $37.25 and a twelve month high of $55.48.
Hess (NYSE:HES) last released its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted ($1.01) EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. sell-side analysts forecast that Hess Corp. will post -2.27 EPS for the current year.
Several research analysts have commented on HES shares. Morgan Stanley raised their price objective on Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, November 1st. Barclays reaffirmed a “hold” rating and set a $49.00 target price on shares of Hess in a research report on Monday, January 8th. Scotiabank set a $52.00 target price on Hess and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Credit Suisse Group began coverage on Hess in a research report on Monday, December 11th. They set an “underperform” rating and a $38.00 target price on the stock. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $52.52.
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Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. 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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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