Hess Corp. (HES) Shares Bought by Trinity Street Asset Management LLP
Trinity Street Asset Management LLP boosted its holdings in Hess Corp. (NYSE:HES) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 766,483 shares of the oil and gas producer’s stock after purchasing an additional 210,851 shares during the period. Hess comprises about 7.5% of Trinity Street Asset Management LLP’s portfolio, making the stock its 6th largest holding. Trinity Street Asset Management LLP owned 0.26% of Hess worth $31,042,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Palo Capital Inc. acquired a new stake in Hess in the 3rd quarter worth about $116,000. Point72 Hong Kong Ltd acquired a new stake in Hess in the 3rd quarter worth about $131,000. Rehmann Capital Advisory Group raised its stake in Hess by 5,108.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 9,376 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 9,196 shares in the last quarter. Permanens Capital L.P. acquired a new stake in Hess in the 3rd quarter worth about $136,000. Finally, Tower Research Capital LLC TRC raised its stake in Hess by 509.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,084 shares of the oil and gas producer’s stock worth $140,000 after purchasing an additional 1,742 shares in the last quarter. 87.29% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Stephens set a $77.00 target price on shares of Hess and gave the company a “buy” rating in a research report on Monday, December 17th. Morgan Stanley reissued a “buy” rating and set a $92.00 target price (up from $87.00) on shares of Hess in a report on Friday, October 12th. Credit Suisse Group reissued a “hold” rating and set a $53.00 target price on shares of Hess in a report on Wednesday, December 19th. MKM Partners dropped coverage on shares of Hess in a report on Wednesday, December 26th. Finally, JPMorgan Chase & Co. set a $57.00 target price on shares of Hess and gave the stock a “sell” rating in a report on Friday, December 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.87.
Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hess had a negative net margin of 47.06% and a negative return on equity of 2.65%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.07) earnings per share. Sell-side analysts expect that Hess Corp. will post -0.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were issued a $0.25 dividend. The ex-dividend date was Friday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Hess’s dividend payout ratio is currently -21.69%.
In other news, insider Michael R. Turner sold 4,142 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $56.82, for a total value of $235,348.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.09% of the company’s stock.
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Hess Corporation, an exploration and production company, 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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