Industry News

Hess Corp. (NYSE:HES) Position Raised by Investec Asset Management LTD

By August 18, 2019 No Comments

Investec Asset Management LTD raised its stake in shares of Hess Corp. (NYSE:HES) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,225,863 shares of the oil and gas producer’s stock after acquiring an additional 227,717 shares during the period. Investec Asset Management LTD owned approximately 0.73% of Hess worth $141,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Icon Wealth Partners LLC acquired a new stake in Hess during the 1st quarter valued at $25,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Hess during the second quarter worth $29,000. Trustcore Financial Services LLC acquired a new stake in shares of Hess during the first quarter worth $35,000. Citizens Financial Group Inc RI acquired a new stake in shares of Hess during the first quarter worth $52,000. Finally, Moody National Bank Trust Division boosted its holdings in shares of Hess by 170.0% during the first quarter. Moody National Bank Trust Division now owns 899 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 566 shares during the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Michael R. Turner sold 11,258 shares of Hess stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.71, for a total transaction of $694,731.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of Hess stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $57.18, for a total value of $417,699.90. The disclosure for this sale can be found here. Insiders sold 48,908 shares of company stock worth $3,090,015 over the last three months. 12.22% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on HES shares. ValuEngine cut Hess from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Wells Fargo & Co restated a “buy” rating on shares of Hess in a report on Wednesday, July 31st. MKM Partners upgraded Hess from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, May 28th. Morgan Stanley set a $69.00 price objective on Hess and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.46.

NYSE:HES traded up $0.20 during mid-day trading on Friday, hitting $59.82. The company had a trading volume of 2,356,900 shares, compared to its average volume of 3,214,240. The business has a fifty day simple moving average of $61.37 and a 200-day simple moving average of $60.34. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Hess Corp. has a 1 year low of $35.59 and a 1 year high of $74.81. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of -80.84 and a beta of 1.97.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Hess had a return on equity of 0.46% and a net margin of 1.09%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted ($0.23) earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Hess Corp. will post -0.39 earnings per share for the current year.

Hess Company Profile

Hess Corporation, an exploration and production company, explores for, 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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