Hess Corporation (HES) Position Raised by Macquarie Group Ltd.
Macquarie Group Ltd. increased its position in shares of Hess Corporation (NYSE:HES) by 948.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,450 shares of the oil and gas producer’s stock after purchasing an additional 87,250 shares during the period. Macquarie Group Ltd.’s holdings in Hess were worth $4,523,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Westpac Banking Corp raised its holdings in Hess by 12.7% during the second quarter. Westpac Banking Corp now owns 159,383 shares of the oil and gas producer’s stock worth $6,992,000 after purchasing an additional 18,000 shares in the last quarter. Swiss National Bank raised its holdings in Hess by 2.8% during the second quarter. Swiss National Bank now owns 1,037,865 shares of the oil and gas producer’s stock worth $45,531,000 after purchasing an additional 28,200 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Hess by 6.5% during the second quarter. Janus Henderson Group PLC now owns 223,277 shares of the oil and gas producer’s stock worth $9,793,000 after purchasing an additional 13,557 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Hess by 9.6% in the second quarter. Artisan Partners Limited Partnership now owns 5,074,723 shares of the oil and gas producer’s stock valued at $222,628,000 after buying an additional 445,857 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Hess by 142.0% in the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock valued at $116,000 after buying an additional 1,552 shares in the last quarter. 89.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hess Corporation (NYSE:HES) opened at $47.09 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.68. Hess Corporation has a one year low of $37.25 and a one year high of $65.56.
Hess (NYSE:HES) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned ($1.12) EPS. The company’s revenue was up 39.3% on a year-over-year basis. analysts expect that Hess Corporation will post -4.58 earnings per share for the current year.
In other Hess news, insider Brian D. Truelove sold 6,000 shares of the business’s stock in a transaction 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 filing with the SEC, which is available through the SEC website. 11.80% of the stock is owned by insiders.
Several research analysts have issued reports on the company. Scotiabank set a $50.00 price target on Hess and gave the company a “buy” rating in a report on Friday, November 17th. BMO Capital Markets set a $45.00 price target on Hess and gave the company a “hold” rating in a report on Friday, November 17th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess in a report on Saturday, September 16th. Zacks Investment Research cut Hess from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $47.00 price target on Hess and gave the company a “buy” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $51.79.
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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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