Hess Corp. (HES) Shares Bought by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Hess Corp. (NYSE:HES) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,792 shares of the oil and gas producer’s stock after buying an additional 2,671 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Hess were worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Andra AP fonden raised its position in Hess by 8.7% during the third quarter. Andra AP fonden now owns 68,700 shares of the oil and gas producer’s stock worth $4,918,000 after acquiring an additional 5,500 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Hess by 1.4% in the third quarter. Nisa Investment Advisors LLC now owns 109,734 shares of the oil and gas producer’s stock valued at $7,855,000 after purchasing an additional 1,564 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Hess by 14.5% in the third quarter. IFM Investors Pty Ltd now owns 14,726 shares of the oil and gas producer’s stock valued at $1,054,000 after purchasing an additional 1,868 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Hess by 2.0% in the third quarter. Whittier Trust Co. now owns 201,200 shares of the oil and gas producer’s stock valued at $14,401,000 after purchasing an additional 3,918 shares during the last quarter. Finally, Three Peaks Capital Management LLC acquired a new position in shares of Hess in the third quarter valued at $2,506,000. Hedge funds and other institutional investors own 87.82% of the company’s stock.
Several research firms have commented on HES. Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective on the stock. in a report on Tuesday, January 29th. They noted that the move was a valuation call. MKM Partners upped their price target on shares of Hess to $79.00 and gave the company a “buy” rating in a research note on Thursday, December 13th. ValuEngine downgraded shares of Hess from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Credit Suisse Group restated a “hold” rating and issued a $61.00 price target on shares of Hess in a research note on Monday, December 10th. Finally, BMO Capital Markets restated a “hold” rating and issued a $63.00 price target on shares of Hess in a research note on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $67.27.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company posted ($1.01) earnings per share. Hess’s revenue was up 30.3% compared to the same quarter last year. On average, analysts forecast that Hess Corp. will post -0.73 EPS for the current year.
In other Hess 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 transaction of $235,348.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John B. Hess sold 167,834 shares of the stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $52.84, for a total transaction of $8,868,348.56. Following the sale, the chief executive officer now owns 1,871,958 shares in the company, valued at $98,914,260.72. The disclosure for this sale can be found here. Insiders have sold 437,523 shares of company stock worth $23,754,993 over the last quarter. Corporate insiders own 12.09% of the company’s stock.
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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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