Stephens Inc. AR Purchases Shares of 4,269 Hess Corp. (HES)
Stephens Inc. AR purchased a new position in Hess Corp. (NYSE:HES) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,269 shares of the oil and gas producer’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC purchased a new position in shares of Hess in the 3rd quarter worth about $134,000. Exane Derivatives raised its position in Hess by 65.2% in the 4th 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 last quarter. Bollard Group LLC purchased a new position in Hess in the 4th quarter worth about $191,000. Advisor Group Inc. raised its position in Hess by 9.7% in the 2nd 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 last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in Hess in the 4th quarter worth about $197,000. 89.83% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Timothy B. Goodell sold 3,627 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $44.43, for a total transaction of $161,147.61. Following the completion of the transaction, the senior vice president now directly owns 99,555 shares in the company, valued at approximately $4,423,228.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John B. Hess sold 93,712 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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. Over the last quarter, insiders have sold 116,347 shares of company stock valued at $5,157,584. 11.80% of the stock is currently owned by corporate insiders.
Hess (NYSE:HES) last announced its quarterly earnings data on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.01) earnings per share. research analysts predict that Hess Corp. will post -2.1 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on HES shares. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, November 9th. JPMorgan Chase & Co. downgraded Hess from a “neutral” rating to an “underweight” rating and set a $44.00 price target for the company. in a research note on Friday, December 15th. Credit Suisse Group started coverage on Hess in a research note on Monday, December 11th. They set an “underperform” rating and a $38.00 price target for the company. Barclays restated a “hold” rating and set a $49.00 price target on shares of Hess in a research note on Monday, January 8th. Finally, Scotiabank set a $52.00 price target on Hess and gave the company a “buy” rating in a research note on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Hess currently has a consensus rating of “Hold” and a consensus target price of $52.52.
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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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