Guggenheim Capital LLC lifted its holdings in Hess Corp. (NYSE:HES) by 63.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,400 shares of the oil and gas producer’s stock after buying an additional 26,225 shares during the period. Guggenheim Capital LLC’s holdings in Hess were worth $4,503,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of HES. State Street Corp grew its holdings in Hess by 5.0% during the 4th quarter. State Street Corp now owns 13,488,778 shares of the oil and gas producer’s stock valued at $901,185,000 after purchasing an additional 645,446 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Hess by 12.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,478,105 shares of the oil and gas producer’s stock valued at $633,232,000 after purchasing an additional 1,038,901 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Hess by 9.8% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,630,507 shares of the oil and gas producer’s stock valued at $442,984,000 after purchasing an additional 590,879 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Hess by 2.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,534,094 shares of the oil and gas producer’s stock valued at $102,493,000 after purchasing an additional 39,131 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in Hess by 11.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,020,180 shares of the oil and gas producer’s stock valued at $68,157,000 after purchasing an additional 104,693 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.
In other Hess news, Director Marc S. Lipschultz purchased 503 shares of the stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $49.72 per share, with a total value of $25,009.16. Following the transaction, the director now owns 13,349 shares of the company’s stock, valued at $663,712.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Geurt G. Schoonman sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $57.68, for a total transaction of $292,437.60. Following the completion of the sale, the senior vice president now directly owns 45,218 shares of the company’s stock, valued at approximately $2,608,174.24. The disclosure for this sale can be found here. Insiders sold a total of 357,322 shares of company stock valued at $20,890,829 in the last ninety days. Corporate insiders own 12.22% of the company’s stock.
Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Hess to a “neutral” rating in a report on Tuesday, January 7th. BMO Capital Markets upgraded shares of Hess from a “market perform” rating to an “outperform” rating and cut their price target for the company from $70.00 to $47.00 in a report on Monday, March 16th. Cowen assumed coverage on shares of Hess in a report on Thursday, December 5th. They set a “market perform” rating and a $65.00 price target on the stock. Stephens upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $76.00 to $57.00 in a report on Friday, March 20th. Finally, Susquehanna Bancshares assumed coverage on shares of Hess in a report on Tuesday, January 14th. They set a “positive” rating and a $82.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Hess has a consensus rating of “Buy” and a consensus price target of $64.41.
Hess stock opened at $34.74 on Thursday. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of -25.93 and a beta of 1.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.26 and a quick ratio of 1.15. Hess Corp. has a 1 year low of $26.06 and a 1 year high of $74.11. The firm has a 50-day moving average of $49.84 and a two-hundred day moving average of $61.48.
Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.04). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hess had a negative net margin of 6.16% and a negative return on equity of 2.68%. Hess’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. Research analysts expect that Hess Corp. will post -2.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. Hess’s payout ratio is presently -105.26%.
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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