DekaBank Deutsche Girozentrale Has $2.79 Million Stake in Hess Corp. (HES)

DekaBank Deutsche Girozentrale reduced its position in Hess Corp. (NYSE:HES) by 15.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,016 shares of the oil and gas producer’s stock after selling 7,306 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hess were worth $2,787,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Hess by 0.3% during the second quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock worth $203,815,000 after purchasing an additional 7,856 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Hess by 35.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 207,296 shares of the oil and gas producer’s stock worth $13,866,000 after purchasing an additional 53,944 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Hess by 23.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,472 shares of the oil and gas producer’s stock worth $3,376,000 after purchasing an additional 9,710 shares during the period. Three Peaks Capital Management LLC acquired a new stake in shares of Hess during the third quarter worth approximately $2,506,000. Finally, CIBC World Markets Inc. boosted its holdings in shares of Hess by 56.0% during the second quarter. CIBC World Markets Inc. now owns 105,673 shares of the oil and gas producer’s stock worth $7,068,000 after purchasing an additional 37,928 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

NYSE HES opened at $56.45 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. Hess Corp. has a 12-month low of $40.37 and a 12-month high of $74.81.

Hess (NYSE:HES) last posted its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.43. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hess had a negative net margin of 47.06% and a negative return on equity of 2.65%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.07) earnings per share. Sell-side analysts anticipate that Hess Corp. will post 0.02 EPS for the current year.

Several research firms recently commented on HES. BMO Capital Markets restated a “hold” rating and set a $63.00 price target on shares of Hess in a report on Tuesday, November 13th. Zacks Investment Research cut shares of Hess from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Credit Suisse Group set a $61.00 price target on shares of Hess and gave the stock a “hold” rating in a report on Wednesday, October 31st. Sanford C. Bernstein began coverage on shares of Hess in a report on Thursday, September 27th. They set an “outperform” rating and a $89.00 price target for the company. Finally, Morgan Stanley restated a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Hess in a report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $67.08.

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 shares were sold at an average price of $56.82, for a total value of $235,348.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.09% of the stock is owned by insiders.

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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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