Insider Selling: Hess Corp. (HES) CFO Sells 3,382 Shares of Stock

Hess Corp. (NYSE:HES) CFO John P. Rielly sold 3,382 shares of the business’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 $150,262.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hess Corp. (HES) traded down $0.88 during trading hours on Friday, hitting $42.12. The company had a trading volume of 6,907,679 shares, compared to its average volume of 4,460,000. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.68 and a current ratio of 2.53. 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 capitalization of $13,110.00, a PE ratio of -3.21 and a beta of 1.58.

Hess (NYSE:HES) last released its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). Hess had a negative return on equity of 9.82% and a negative net margin of 74.55%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted ($1.01) EPS. The company’s revenue was down 6.5% compared to the same quarter last year. equities research analysts expect that Hess Corp. will post -2.5 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Bluestein R H & Co. acquired a new position in shares of Hess in the third quarter worth about $731,000. Asset Management One Co. Ltd. lifted its stake in shares of Hess by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 438,504 shares of the oil and gas producer’s stock worth $20,554,000 after acquiring an additional 3,171 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Hess by 6.5% in 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 acquiring an additional 13,557 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its stake in shares of Hess by 1.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 238,871 shares of the oil and gas producer’s stock worth $11,201,000 after acquiring an additional 3,238 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Hess by 9.0% in the third quarter. Strs Ohio now owns 1,172,481 shares of the oil and gas producer’s stock worth $54,977,000 after acquiring an additional 96,657 shares in the last quarter. Institutional investors and hedge funds own 89.85% of the company’s stock.

A number of brokerages have commented on HES. BMO Capital Markets reduced their price objective on Hess from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Tuesday. Morgan Stanley boosted their price objective on Hess from $49.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Scotiabank set a $50.00 price objective on Hess and gave the stock a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research cut Hess from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Macquarie began coverage on Hess in a research note on Wednesday, January 17th. They set an “outperform” rating and a $65.00 price objective on the stock. Five analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Hess presently has an average rating of “Hold” and an average target price of $52.28.

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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.

Insider Buying and Selling by Quarter for Hess (NYSE:HES)

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