Jupiter Asset Management Ltd. Has $2.54 Million Position in Hess Corporation (HES)
Jupiter Asset Management Ltd. lessened its stake in Hess Corporation (NYSE:HES) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,174 shares of the oil and gas producer’s stock after selling 1,317 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Hess were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Hess by 7.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 167 shares in the last quarter. Korea Investment CORP increased its position in Hess by 142.0% in the 2nd quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock valued at $116,000 after acquiring an additional 1,552 shares in the last quarter. Legacy Advisors LLC acquired a new stake in Hess in the 3rd quarter valued at about $134,000. Advisor Group Inc. increased 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 valued at $167,000 after acquiring an additional 362 shares in the last quarter. Finally, Welch & Forbes LLC increased its position in Hess by 1.0% in the 2nd quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock valued at $205,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.
Shares of Hess Corporation (NYSE:HES) traded up $1.43 during midday trading on Thursday, reaching $44.81. 3,465,500 shares of the company were exchanged, compared to its average volume of 4,146,843. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. Hess Corporation has a 52-week low of $37.25 and a 52-week high of $65.56.
Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.29) by $0.22. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.12) earnings per share. equities research analysts predict that Hess Corporation will post -4.58 earnings per share for the current year.
In related news, insider Brian D. Truelove sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $42.53, for a total transaction of $255,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 11.80% of the stock is currently owned by insiders.
Several research firms have weighed in on HES. Scotiabank set a $50.00 price objective on shares of Hess and gave the company a “buy” rating in a research report on Friday, November 17th. BMO Capital Markets set a $45.00 price objective on shares of Hess and gave the company a “hold” rating in a research report on Friday, November 17th. Morgan Stanley reiterated an “equal weight” rating on shares of Hess in a research report on Saturday, September 16th. Zacks Investment Research cut shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $47.00 price target on shares of Hess and gave the stock a “buy” rating in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $51.79.
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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, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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