Hess Corp. (HES) Stake Lifted by Edmond DE Rothschild Holding S.A.
Edmond DE Rothschild Holding S.A. boosted its holdings in Hess Corp. (NYSE:HES) by 14.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 69,400 shares of the oil and gas producer’s stock after buying an additional 8,800 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Hess were worth $2,811,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC purchased a new position in Hess in the fourth quarter valued at approximately $26,000. NuWave Investment Management LLC raised its holdings in Hess by 266.5% in the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 605 shares during the period. Rational Advisors LLC raised its holdings in Hess by 266.5% in the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 605 shares during the period. Parallel Advisors LLC raised its holdings in Hess by 26.2% in the fourth quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 233 shares during the period. Finally, Palo Capital Inc. purchased a new position in Hess in the third quarter valued at approximately $116,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.
In other news, CEO John B. Hess sold 218,220 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $55.44, for a total transaction of $12,098,116.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Risa J. Lavizzo-Mourey purchased 442 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $56.74 per share, with a total value of $25,079.08. Following the transaction, the director now directly owns 42,446 shares of the company’s stock, valued at approximately $2,408,386.04. The disclosure for this purchase can be found here. Insiders sold 462,041 shares of company stock valued at $25,173,566 in the last ninety days. 12.09% of the stock is owned by corporate insiders.
Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.10. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned ($1.01) earnings per share. Hess’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts anticipate that Hess Corp. will post -0.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, March 15th. Hess’s dividend payout ratio (DPR) is -135.14%.
Several research firms recently commented on HES. Stephens lowered shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price target on the stock. in a report on Tuesday, January 29th. They noted that the move was a valuation call. MKM Partners raised their price target on shares of Hess to $79.00 and gave the company a “buy” rating in a report on Thursday, December 13th. Credit Suisse Group restated a “hold” rating and issued a $61.00 price target on shares of Hess in a report on Monday, December 10th. Barclays upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and set a $66.00 price target on the stock in a report on Thursday, January 10th. They noted that the move was a valuation call. Finally, Mizuho set a $55.00 price target on shares of Hess and gave the company a “hold” rating in a report on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Hess currently has an average rating of “Hold” and an average price target of $69.31.
Hess Company Profile
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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