Guinness Atkinson Asset Management Inc lowered its holdings in Hess Corp. (NYSE:HES) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,643 shares of the oil and gas producer’s stock after selling 3,900 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Hess were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of HES. Legacy Advisors LLC purchased a new position in shares of Hess in the third quarter worth $134,000. Advisor Group Inc. raised its stake in shares of Hess by 9.7% in the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after purchasing an additional 362 shares during the last quarter. Exane Derivatives raised its stake in shares of Hess by 65.2% in the fourth quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock worth $168,000 after purchasing an additional 1,395 shares during the last quarter. Point View Wealth Management Inc. purchased a new stake in Hess during the third quarter valued at $208,000. Finally, Shelton Capital Management purchased a new stake in Hess during the second quarter valued at $217,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.
HES has been the subject of a number of research reports. Morgan Stanley upped 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. Scotiabank set a $52.00 price objective on Hess and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, November 1st. BMO Capital Markets set a $45.00 price objective on Hess and gave the company a “hold” rating in a research report on Friday, November 17th. Finally, Credit Suisse Group initiated coverage on Hess in a research report on Monday, December 11th. They set an “underperform” rating and a $38.00 price objective for the company. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.52.
In related news, COO Gregory P. Hill sold 7,400 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy B. Goodell sold 3,627 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $44.43, for a total value of $161,147.61. Following the transaction, the senior vice president now directly owns 99,555 shares of the company’s stock, valued at $4,423,228.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,347 shares of company stock valued at $5,157,584. 11.80% of the stock is owned by corporate insiders.
Hess Corp. (HES) opened at $44.14 on Tuesday. 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 one year low of $37.25 and a one year high of $55.48.
Hess (NYSE:HES) last released its quarterly earnings data on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.10). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hess had a negative return on equity of 9.82% and a negative net margin of 74.55%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned ($1.01) EPS. analysts anticipate that Hess Corp. will post -2.27 EPS for the current fiscal year.
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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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