70,000 Shares in Hess Corp. (HES) Purchased by Viking Fund Management LLC
Viking Fund Management LLC purchased a new stake in Hess Corp. (NYSE:HES) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 70,000 shares of the oil and gas producer’s stock, valued at approximately $3,323,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in Hess by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 167 shares during the last quarter. Legacy Advisors LLC purchased a new stake in Hess in the third quarter valued at $134,000. Advisor Group Inc. lifted its position in Hess by 9.7% in the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 362 shares during the last quarter. Point View Wealth Management Inc. purchased a new stake in Hess in the third quarter valued at $208,000. Finally, Wesbanco Bank Inc. purchased a new stake in Hess in the third quarter valued at $220,000. 89.65% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.80% of the company’s stock.
Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.22. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. Hess’s quarterly revenue was up 39.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.12) earnings per share. research analysts anticipate that Hess Corp. will post -4.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Hess’s dividend payout ratio (DPR) is -4.95%.
HES has been the subject of a number of research reports. Scotiabank set a $50.00 price target on shares of Hess and gave the company a “buy” rating in a research report on Friday, November 17th. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, October 11th. Morgan Stanley boosted their price target on shares of Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $45.00 price target on shares of Hess and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Barclays reissued a “hold” rating and issued a $49.00 price target on shares of Hess in a research report on Monday, January 8th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.93.
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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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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