Mutual of America Capital Management LLC lifted its position in shares of Hess Corp. (NYSE:HES) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,233 shares of the oil and gas producer’s stock after purchasing an additional 1,776 shares during the period. Mutual of America Capital Management LLC’s holdings in Hess were worth $2,005,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of HES. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Hess by 13.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock worth $431,688,000 after purchasing an additional 1,123,000 shares during the period. Hermes Investment Management Ltd. boosted its holdings in shares of Hess by 57.0% during the third quarter. Hermes Investment Management Ltd. now owns 1,730,153 shares of the oil and gas producer’s stock worth $81,127,000 after purchasing an additional 627,795 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Hess by 13.0% during the third quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock worth $244,483,000 after purchasing an additional 598,576 shares during the period. Impala Asset Management LLC boosted its holdings in shares of Hess by 70.9% during the third quarter. Impala Asset Management LLC now owns 1,409,356 shares of the oil and gas producer’s stock worth $66,085,000 after purchasing an additional 584,640 shares during the period. Finally, Hexavest Inc. boosted its holdings in shares of Hess by 207.6% during the fourth quarter. Hexavest Inc. now owns 830,005 shares of the oil and gas producer’s stock worth $39,400,000 after purchasing an additional 560,177 shares during the period. Institutional investors own 89.83% of the company’s stock.
In other Hess news, CEO John B. Hess sold 93,712 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $44.29, for a total transaction of $4,150,504.48. Following the completion of the transaction, the chief executive officer now owns 1,885,911 shares of the company’s stock, valued at $83,526,998.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregory P. Hill sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The disclosure for this sale can be found here. Insiders have sold 116,347 shares of company stock valued at $5,157,584 in the last ninety days. Insiders own 11.80% of the company’s stock.
A number of analysts have recently weighed in on HES shares. Morgan Stanley increased their target price on shares of Hess from $43.00 to $49.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Hess from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, November 1st. Barclays restated a “hold” rating and issued a $49.00 price objective on shares of Hess in a report on Monday, January 8th. Scotiabank set a $52.00 price objective on shares of Hess and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Credit Suisse Group began coverage on shares of Hess in a report on Monday, December 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Four research 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. Hess presently has an average rating of “Hold” and an average target price of $52.52.
Shares of Hess Corp. (NYSE:HES) opened at $44.14 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.53 and a debt-to-equity ratio of 0.52. Hess Corp. has a 1-year low of $37.25 and a 1-year high of $55.48.
Hess (NYSE:HES) last announced its 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 in the prior year, the business posted ($1.01) EPS. Hess’s revenue for the quarter was down 6.5% on a year-over-year basis. analysts expect 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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