NuWave Investment Management LLC Takes $141,000 Position in Hess Corp. (HES)
NuWave Investment Management LLC bought a new position in Hess Corp. (NYSE:HES) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,961 shares of the oil and gas producer’s stock, valued at approximately $141,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in shares of Hess in the third quarter worth $134,000. Advisor Group Inc. increased its stake in shares of 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 buying an additional 362 shares during the period. Exane Derivatives increased its stake in shares of 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 buying an additional 1,395 shares during the period. Bollard Group LLC purchased a new position in shares of Hess in the fourth quarter worth $191,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Hess in the fourth quarter worth $197,000. 89.83% of the stock is currently owned by institutional investors.
In other news, insider Michael R. Turner sold 1,914 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $44.43, for a total transaction of $85,039.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Gregory P. Hill sold 7,400 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,347 shares of company stock worth $5,157,584. Company insiders own 11.80% of the company’s stock.
Shares of Hess Corp. (NYSE HES) opened at $45.37 on Thursday. Hess Corp. has a fifty-two week low of $37.25 and a fifty-two week high of $55.48. The company has a market cap of $13,599.87, a price-to-earnings ratio of -3.46 and a beta of 1.58. The company has a current ratio of 2.53, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52.
Hess (NYSE:HES) last announced its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted ($1.01) EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. sell-side analysts forecast that Hess Corp. will post -2.1 earnings per share 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, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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