Hess Corp. (HES) Shares Bought by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. raised its holdings in shares of Hess Corp. (NYSE:HES) by 26.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 126,709 shares of the oil and gas producer’s stock after acquiring an additional 26,544 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Hess were worth $9,070,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Northern Trust Corp raised its position in shares of Hess by 0.3% during the 2nd quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock valued at $203,815,000 after acquiring an additional 7,856 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hess by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,477 shares of the oil and gas producer’s stock valued at $162,356,000 after acquiring an additional 9,173 shares during the last quarter. Investec Asset Management LTD raised its position in shares of Hess by 4.5% during the 2nd quarter. Investec Asset Management LTD now owns 2,005,513 shares of the oil and gas producer’s stock valued at $134,149,000 after acquiring an additional 87,208 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Hess by 3.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,762,886 shares of the oil and gas producer’s stock valued at $126,187,000 after acquiring an additional 65,610 shares during the last quarter. Finally, Packer & Co Ltd raised its position in shares of Hess by 10.8% during the 2nd quarter. Packer & Co Ltd now owns 1,239,800 shares of the oil and gas producer’s stock valued at $82,930,000 after acquiring an additional 121,000 shares during the last quarter. Institutional investors own 88.72% of the company’s stock.

HES has been the subject of several recent research reports. Zacks Investment Research cut shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley reissued a “buy” rating and issued a $92.00 price target (up previously from $87.00) on shares of Hess in a report on Friday, October 12th. Bank of America set a $80.00 price target on shares of Hess and gave the company a “buy” rating in a report on Wednesday, July 25th. Sanford C. Bernstein began coverage on shares of Hess in a report on Thursday, September 27th. They issued an “outperform” rating and a $89.00 price target for the company. Finally, Credit Suisse Group set a $61.00 price target on shares of Hess and gave the company a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $66.71.

Shares of HES stock opened at $57.84 on Friday. Hess Corp. has a 12-month low of $40.37 and a 12-month high of $74.81. The firm has a market capitalization of $17.11 billion, a PE ratio of -12.55 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.41 and a quick ratio of 2.29.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.43. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.54 billion. Hess had a negative net margin of 59.77% and a negative return on equity of 6.04%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.07) EPS. Equities analysts expect that Hess Corp. will post -0.39 EPS for the current fiscal year.

Hess Profile

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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