Hess Corp. (HES) Shares Bought by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. raised its position in shares of Hess Corp. (NYSE:HES) by 63.8% during the fourth quarter, Holdings Channel reports. The fund owned 151,980 shares of the oil and gas producer’s stock after buying an additional 59,209 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Hess were worth $7,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bluestein R H & Co. bought a new stake in Hess during the third quarter valued at $731,000. Asset Management One Co. Ltd. boosted its position in Hess by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 438,504 shares of the oil and gas producer’s stock valued at $20,554,000 after acquiring an additional 3,171 shares during the last quarter. Janus Henderson Group PLC boosted its position 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 valued at $9,793,000 after acquiring an additional 13,557 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Hess by 1.4% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 238,871 shares of the oil and gas producer’s stock valued at $11,201,000 after acquiring an additional 3,238 shares during the last quarter. Finally, Strs Ohio boosted its position in Hess by 9.0% during the third quarter. Strs Ohio now owns 1,172,481 shares of the oil and gas producer’s stock valued at $54,977,000 after acquiring an additional 96,657 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Hess Corp. (NYSE:HES) opened at $45.37 on Thursday. Hess Corp. has a fifty-two week low of $37.25 and a fifty-two week high of $55.48. The firm has a market cap of $13,599.87, a PE ratio of -3.46 and a beta of 1.58. 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 announced its quarterly earnings data on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted ($1.01) EPS. Hess’s revenue for the quarter was down 6.5% on a year-over-year basis. sell-side analysts forecast that Hess Corp. will post -2.1 EPS for the current fiscal year.

In related news, insider Michael R. Turner sold 1,914 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $44.43, for a total value of $85,039.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John B. Hess sold 93,712 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.29, for a total transaction of $4,150,504.48. Following the completion of the sale, the chief executive officer now owns 1,885,911 shares in the company, valued at approximately $83,526,998.19. The disclosure for this sale can be found here. Insiders sold a total of 116,347 shares of company stock worth $5,157,584 in the last 90 days. 11.80% of the stock is currently owned by company insiders.

A number of analysts have commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $50.00 price target on shares of Hess in a research report on Thursday, January 11th. Macquarie assumed coverage on shares of Hess in a research report on Wednesday, January 17th. They set an “outperform” rating and a $65.00 price target on the stock. Morgan Stanley upped their price target on shares of Hess from $49.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Barclays reaffirmed a “hold” rating and set a $49.00 price target on shares of Hess in a research report on Monday, January 8th. Finally, Zacks Investment Research lowered shares of Hess from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.52.

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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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