Daiwa Securities Group Inc. Increases Position in Hess Corp. (HES)
Daiwa Securities Group Inc. increased its position in Hess Corp. (NYSE:HES) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,311 shares of the oil and gas producer’s stock after purchasing an additional 18,551 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Hess were worth $3,242,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Legacy Advisors LLC acquired a new stake in Hess in the third quarter worth about $134,000. Exane Derivatives increased its position in Hess by 65.2% in the fourth quarter. Exane Derivatives now owns 3,536 shares of the oil and gas producer’s stock worth $168,000 after purchasing an additional 1,395 shares during the period. Bollard Group LLC acquired a new stake in Hess in the fourth quarter worth about $191,000. Advisor Group Inc. increased 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 worth $167,000 after purchasing an additional 362 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in Hess in the fourth quarter worth about $197,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.
Hess Corp. (NYSE HES) opened at $42.80 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 1.68. Hess Corp. has a 12-month low of $37.25 and a 12-month high of $55.48. The stock has a market capitalization of $14,025.66, a P/E ratio of -3.26 and a beta of 1.58.
In related news, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 93,712 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $44.29, for a total value of $4,150,504.48. Following the completion of the transaction, the chief executive officer now owns 1,885,911 shares of the company’s stock, valued at $83,526,998.19. The disclosure for this sale can be found here. Insiders sold a total of 116,347 shares of company stock valued at $5,157,584 over the last quarter. 11.80% of the stock is owned by insiders.
Several equities analysts have recently issued reports on HES shares. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, November 9th. JPMorgan Chase & Co. lowered Hess from a “neutral” rating to an “underweight” rating and set a $44.00 target price for the company. in a research report on Friday, December 15th. Credit Suisse Group started coverage on Hess in a research report on Monday, December 11th. They set an “underperform” rating and a $38.00 target price for the company. Barclays restated a “hold” rating and set a $49.00 target price on shares of Hess in a research report on Monday, January 8th. Finally, Scotiabank set a $52.00 target price on Hess and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Hess currently has a consensus rating of “Hold” and a consensus target price of $52.52.
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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