Huntington National Bank increased its holdings in shares of Hess Corp. (NYSE:HES) by 57.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,052 shares of the oil and gas producer’s stock after acquiring an additional 1,115 shares during the period. Huntington National Bank’s holdings in Hess were worth $204,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Harvest Investment Services LLC purchased a new stake in Hess in the 4th quarter worth $254,000. Coastline Trust Co grew its position in shares of Hess by 23.0% in the fourth quarter. Coastline Trust Co now owns 14,270 shares of the oil and gas producer’s stock valued at $953,000 after purchasing an additional 2,665 shares during the period. Calamos Advisors LLC grew its position in shares of Hess by 15.9% in the fourth quarter. Calamos Advisors LLC now owns 435,403 shares of the oil and gas producer’s stock valued at $29,089,000 after purchasing an additional 59,876 shares during the period. Calamos Wealth Management LLC grew its position in shares of Hess by 25.6% in the fourth quarter. Calamos Wealth Management LLC now owns 7,278 shares of the oil and gas producer’s stock valued at $486,000 after purchasing an additional 1,485 shares during the period. Finally, Trinity Street Asset Management LLP increased its stake in shares of Hess by 4.3% during the fourth quarter. Trinity Street Asset Management LLP now owns 592,292 shares of the oil and gas producer’s stock worth $39,571,000 after purchasing an additional 24,171 shares in the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.
Shares of NYSE HES opened at $69.90 on Tuesday. The firm has a 50-day simple moving average of $66.15 and a 200-day simple moving average of $64.34. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $21.30 billion, a price-to-earnings ratio of -105.91 and a beta of 2.02. Hess Corp. has a 52 week low of $50.08 and a 52 week high of $74.11.
Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). Hess had a negative net margin of 2.82% and a negative return on equity of 1.62%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business posted $0.38 earnings per share. Hess’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, equities research analysts expect that Hess Corp. will post -0.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.25 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. Hess’s payout ratio is -135.14%.
In other news, SVP Richard D. Lynch sold 36,329 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $73.75, for a total value of $2,679,263.75. Following the completion of the sale, the senior vice president now directly owns 21,333 shares in the company, valued at $1,573,308.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Rielly sold 49,740 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $70.54, for a total value of $3,508,659.60. Following the transaction, the chief financial officer now directly owns 238,859 shares in the company, valued at approximately $16,849,113.86. The disclosure for this sale can be found here. Company insiders own 12.22% of the company’s stock.
Several research analysts recently weighed in on HES shares. JPMorgan Chase & Co. upgraded shares of Hess to a “neutral” rating in a research report on Tuesday, January 7th. Citigroup started coverage on Hess in a report on Monday, September 23rd. They issued a “neutral” rating and a $70.00 price objective on the stock. Scotiabank started coverage on Hess in a research note on Tuesday, November 12th. They set an “underperform” rating for the company. Susquehanna Bancshares began coverage on Hess in a research note on Tuesday, January 14th. They set a “positive” rating and a $82.00 price objective for the company. Finally, MKM Partners set a $80.00 target price on Hess and gave the company a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Hess currently has an average rating of “Hold” and a consensus price target of $73.27.
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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