Hess Corp. (HES) Position Lifted by TD Asset Management Inc.

TD Asset Management Inc. lifted its stake in Hess Corp. (NYSE:HES) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,057 shares of the oil and gas producer’s stock after acquiring an additional 831 shares during the period. TD Asset Management Inc.’s holdings in Hess were worth $3,040,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Impala Asset Management LLC grew its holdings in shares of Hess by 8.3% during the 3rd quarter. Impala Asset Management LLC now owns 2,562,231 shares of the oil and gas producer’s stock worth $183,404,000 after purchasing an additional 196,125 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Hess by 3.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,762,886 shares of the oil and gas producer’s stock valued at $126,187,000 after buying an additional 65,610 shares in the last quarter. Legal & General Group Plc boosted its stake in Hess by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 1,410,643 shares of the oil and gas producer’s stock valued at $101,026,000 after buying an additional 41,581 shares in the last quarter. Packer & Co Ltd boosted its stake in Hess by 10.1% in the 4th quarter. Packer & Co Ltd now owns 1,364,800 shares of the oil and gas producer’s stock valued at $55,274,000 after buying an additional 125,000 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Hess by 1.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,053,552 shares of the oil and gas producer’s stock valued at $42,669,000 after buying an additional 12,070 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO John B. Hess sold 218,220 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $55.44, for a total transaction of $12,098,116.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael R. Turner sold 7,107 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $55.44, for a total value of $394,012.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 437,523 shares of company stock valued at $23,754,993. 12.09% of the stock is currently owned by corporate insiders.

HES stock opened at $57.58 on Tuesday. The firm has a market cap of $17.06 billion, a PE ratio of -77.81 and a beta of 1.93. Hess Corp. has a twelve month low of $35.59 and a twelve month high of $74.81. The company has a quick ratio of 2.16, a current ratio of 2.02 and a debt-to-equity ratio of 0.61.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.10. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.49 billion. Hess had a negative return on equity of 0.73% and a negative net margin of 2.91%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.01) earnings per share. On average, equities research analysts predict that Hess Corp. will post -0.73 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the company. Barclays upgraded Hess from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research report on Thursday, January 10th. They noted that the move was a valuation call. Morgan Stanley set a $63.00 price objective on Hess and gave the company a “buy” rating in a research report on Tuesday, January 29th. Stephens downgraded Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective for the company. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and issued a $85.00 price objective on shares of Hess in a research report on Tuesday, November 27th. Finally, MKM Partners lifted their price objective on Hess to $79.00 and gave the company a “buy” rating in a research report on Thursday, December 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.27.

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About Hess

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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