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Investec Asset Management North America Inc. Has $1.48 Million Position in Hess Corp. (NYSE:HES)

By August 20, 2019 No Comments

Investec Asset Management North America Inc. cut its stake in shares of Hess Corp. (NYSE:HES) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,243 shares of the oil and gas producer’s stock after selling 415 shares during the period. Investec Asset Management North America Inc.’s holdings in Hess were worth $1,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in shares of Hess by 9.6% in the 2nd quarter. Fisher Asset Management LLC now owns 2,240,208 shares of the oil and gas producer’s stock valued at $142,410,000 after acquiring an additional 195,299 shares during the period. Point View Wealth Management Inc. grew its position in Hess by 6.6% during the 2nd quarter. Point View Wealth Management Inc. now owns 5,037 shares of the oil and gas producer’s stock worth $320,000 after purchasing an additional 310 shares during the period. Janney Montgomery Scott LLC grew its position in Hess by 17.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,696 shares of the oil and gas producer’s stock worth $1,125,000 after purchasing an additional 2,642 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in Hess by 10.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,834 shares of the oil and gas producer’s stock worth $1,197,000 after purchasing an additional 1,810 shares during the period. Finally, SG Americas Securities LLC grew its position in Hess by 233.0% during the 2nd quarter. SG Americas Securities LLC now owns 28,201 shares of the oil and gas producer’s stock worth $1,793,000 after purchasing an additional 19,732 shares during the period. Institutional investors own 92.62% of the company’s stock.

In related news, insider Michael R. Turner sold 11,258 shares of Hess stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.71, for a total value of $694,731.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of Hess stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $57.18, for a total transaction of $417,699.90. The disclosure for this sale can be found here. Insiders sold a total of 48,908 shares of company stock valued at $3,090,015 in the last quarter. 12.22% of the stock is owned by insiders.

Shares of NYSE HES traded up $0.20 during midday trading on Friday, reaching $59.82. 2,356,900 shares of the stock were exchanged, compared to its average volume of 3,195,054. The company has a 50 day simple moving average of $61.37 and a 200 day simple moving average of $60.34. The stock has a market capitalization of $18.15 billion, a P/E ratio of -80.84 and a beta of 1.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.58. Hess Corp. has a twelve month low of $35.59 and a twelve month high of $74.81.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Hess had a net margin of 1.09% and a return on equity of 0.46%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned ($0.23) EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Hess Corp. will post -0.39 earnings per share for the current year.

Several equities research analysts have weighed in on HES shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Hess in a research report on Wednesday, July 31st. Capital One Financial raised shares of Hess from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, May 15th. Morgan Stanley set a $69.00 target price on shares of Hess and gave the stock a “buy” rating in a research note on Monday, June 24th. ValuEngine lowered shares of Hess from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, MKM Partners raised shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Hess currently has a consensus rating of “Hold” and a consensus price target of $69.46.

About Hess

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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