Gamco Investors INC. ET AL trimmed its position in shares of Hess Corp. (NYSE:HES) by 39.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,857 shares of the oil and gas producer’s stock after selling 34,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Hess were worth $2,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its stake in Hess by 13.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock worth $431,688,000 after buying an additional 1,123,000 shares during the period. Bank of New York Mellon Corp boosted its stake in Hess by 13.0% during the third quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock worth $244,483,000 after buying an additional 598,576 shares during the period. Artisan Partners Limited Partnership boosted its stake in Hess by 2.3% during the third quarter. Artisan Partners Limited Partnership now owns 5,189,336 shares of the oil and gas producer’s stock worth $243,328,000 after buying an additional 114,613 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Hess by 2.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,227,746 shares of the oil and gas producer’s stock worth $198,239,000 after buying an additional 82,901 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Hess by 2.1% during the third quarter. Wells Fargo & Company MN now owns 3,486,148 shares of the oil and gas producer’s stock worth $163,465,000 after buying an additional 73,374 shares during the period. 89.83% of the stock is owned by institutional investors.

Shares of Hess Corp. (NYSE HES) opened at $42.12 on Monday. Hess Corp. has a one year low of $37.25 and a one year high of $55.48. The company has a current ratio of 2.53, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52.

Hess (NYSE:HES) last issued its earnings results 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 analysts’ expectations of $1.32 billion. Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.01) earnings per share. equities analysts forecast that Hess Corp. will post -2.27 earnings per share for the current fiscal year.

HES has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, November 9th. JPMorgan Chase & Co. lowered shares of Hess from a “neutral” rating to an “underweight” rating and set a $44.00 price objective for the company. in a research note on Friday, December 15th. Credit Suisse Group initiated coverage on shares of Hess in a research note on Monday, December 11th. They set an “underperform” rating and a $38.00 price objective for the company. Barclays reaffirmed a “hold” rating and set a $49.00 price objective on shares of Hess in a research note on Monday, January 8th. Finally, Scotiabank set a $52.00 price objective on shares of Hess and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.28.

In related news, COO Gregory P. Hill sold 7,400 shares of Hess stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy B. Goodell sold 3,627 shares of Hess stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $44.43, for a total value of $161,147.61. Following the completion of the sale, the senior vice president now owns 99,555 shares of the company’s stock, valued at $4,423,228.65. The disclosure for this sale can be found here. Insiders have sold 116,347 shares of company stock valued at $5,157,584 over the last three months. Insiders own 11.80% of the company’s stock.

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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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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