Tiedemann Wealth Management LLC bought a new stake in Hess Corporation (NYSE:HES) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,560 shares of the oil and gas producer’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Hess by 7.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 167 shares in the last quarter. Korea Investment CORP raised its stake in shares of Hess by 142.0% during the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 1,552 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Hess during the third quarter worth approximately $134,000. Advisor Group Inc. raised its stake in shares of Hess by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 362 shares in the last quarter. Finally, Point View Wealth Management Inc. purchased a new position in shares of Hess during the third quarter worth approximately $208,000. 89.68% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Scotiabank set a $50.00 price target on shares of Hess and gave the stock a “buy” rating in a research note on Friday, November 17th. BMO Capital Markets set a $45.00 price target on shares of Hess and gave the stock a “hold” rating in a research note on Friday, November 17th. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, November 9th. Morgan Stanley lifted their price target on shares of Hess from $43.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Finally, J P Morgan Chase & Co downgraded shares of Hess from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $52.00 to $45.00 in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Hess presently has a consensus rating of “Hold” and an average price target of $51.79.

In other news, insider Brian D. Truelove sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $42.53, for a total value of $255,180.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 11.80% of the stock is currently owned by company insiders.

Hess Corporation (HES) opened at $47.09 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46. Hess Corporation has a fifty-two week low of $37.25 and a fifty-two week high of $65.56.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the business earned ($1.12) earnings per share. The business’s revenue was up 39.3% on a year-over-year basis. sell-side analysts expect that Hess Corporation will post -4.58 EPS for the current year.

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Hess Company Profile

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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