DNB Asset Management AS Has $2.42 Million Position in Hess Corp. (NYSE:HES)

DNB Asset Management AS grew its position in Hess Corp. (NYSE:HES) by 8.8% during the 3rd quarter, Holdings Channel reports. The firm owned 39,975 shares of the oil and gas producer’s stock after purchasing an additional 3,239 shares during the quarter. DNB Asset Management AS’s holdings in Hess were worth $2,418,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Hess in the 2nd quarter valued at $29,000. Commonwealth Bank of Australia boosted its stake in shares of Hess by 45.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 551 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Coastal Investment Advisors Inc. boosted its stake in shares of Hess by 79.6% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 573 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 254 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Hess by 120.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 828 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 453 shares in the last quarter. Finally, Capital Investment Advisory Services LLC boosted its stake in shares of Hess by 181.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 915 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 590 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $69.00 target price on shares of Hess and gave the company a “buy” rating in a research note on Monday, June 24th. Piper Jaffray Companies set a $61.00 target price on shares of Hess and gave the company a “hold” rating in a research note on Friday, August 16th. Barclays assumed coverage on shares of Hess in a research note on Monday, August 19th. They issued an “overweight” rating and a $93.00 target price on the stock. Wells Fargo & Co restated a “buy” rating on shares of Hess in a research note on Wednesday, July 31st. Finally, Citigroup initiated coverage on shares of Hess in a research note on Monday, September 23rd. They issued a “neutral” rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.08.

In other Hess news, CEO John B. Hess sold 142,109 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $65.11, for a total transaction of $9,252,716.99. Following the completion of the sale, the chief executive officer now directly owns 1,562,015 shares of the company’s stock, valued at approximately $101,702,796.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael R. Turner sold 32,746 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $69.00, for a total value of $2,259,474.00. Following the sale, the senior vice president now directly owns 54,904 shares of the company’s stock, valued at $3,788,376. The disclosure for this sale can be found here. Insiders sold 242,911 shares of company stock valued at $16,012,509 over the last ninety days. 12.22% of the stock is currently owned by company insiders.

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Hess stock opened at $64.95 on Friday. The stock has a 50-day simple moving average of $63.96 and a 200 day simple moving average of $62.20. The company has a quick ratio of 1.46, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. Hess Corp. has a 12-month low of $35.59 and a 12-month high of $71.06. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of -87.77 and a beta of 1.97.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a return on equity of 0.46% and a net margin of 1.09%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess Corp. will post -0.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. Hess’s dividend payout ratio is -135.14%.

Hess Company Profile

Hess Corporation, an exploration and production company, explores for, 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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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