Hess Corp. (HES) Shares Sold by Rampart Investment Management Company LLC

Rampart Investment Management Company LLC reduced its position in Hess Corp. (NYSE:HES) by 73.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,800 shares of the oil and gas producer’s stock after selling 13,175 shares during the period. Rampart Investment Management Company LLC’s holdings in Hess were worth $187,624,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Palo Capital Inc. bought a new stake in Hess in the third quarter valued at about $116,000. Permanens Capital L.P. bought a new stake in Hess in the third quarter valued at about $136,000. Atlas Capital Advisors LLC bought a new stake in Hess in the third quarter valued at about $153,000. Tower Research Capital LLC TRC increased its holdings in Hess by 509.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,084 shares of the oil and gas producer’s stock valued at $140,000 after buying an additional 1,742 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co bought a new stake in Hess in the third quarter valued at about $200,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Shares of HES stock opened at $50.90 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. Hess Corp. has a 52 week low of $40.37 and a 52 week high of $74.81. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of -11.04 and a beta of 1.55.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.43. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted ($1.07) earnings per share. Hess’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Hess Corp. will post -0.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. Hess’s payout ratio is currently -21.69%.

HES has been the subject of several research analyst reports. KLR Group reissued a “hold” rating and issued a $74.00 price objective on shares of Hess in a report on Monday, August 20th. Bank of America reissued a “buy” rating and issued a $86.00 price objective (up from $83.00) on shares of Hess in a report on Monday, September 17th. Credit Suisse Group set a $61.00 price objective on Hess and gave the company a “hold” rating in a report on Monday, September 17th. Morgan Stanley reissued a “buy” rating and issued a $87.00 price objective (up from $84.00) on shares of Hess in a report on Tuesday, September 18th. Finally, Piper Jaffray Companies lowered Hess from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Two 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 stock currently has a consensus rating of “Hold” and a consensus target price of $69.27.

In other Hess news, insider Michael R. Turner sold 4,142 shares of Hess stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total value of $235,348.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.09% of the company’s stock.

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Hess 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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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