DFT Energy LP Lowers Stake in Hess Corp. (HES)

DFT Energy LP cut its position in shares of Hess Corp. (NYSE:HES) by 60.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 95,000 shares of the oil and gas producer’s stock after selling 145,000 shares during the quarter. Hess accounts for 9.1% of DFT Energy LP’s portfolio, making the stock its 6th largest position. DFT Energy LP’s holdings in Hess were worth $3,848,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Hess by 0.3% during the 2nd quarter. Northern Trust Corp now owns 3,047,025 shares of the oil and gas producer’s stock worth $203,815,000 after acquiring an additional 7,856 shares in the last quarter. Impala Asset Management LLC boosted its stake 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 acquiring an additional 196,125 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Hess by 3.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,762,886 shares of the oil and gas producer’s stock worth $126,187,000 after acquiring an additional 65,610 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Hess by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 1,410,643 shares of the oil and gas producer’s stock worth $101,026,000 after acquiring an additional 41,581 shares in the last quarter. Finally, Packer & Co Ltd boosted its stake in shares of Hess by 10.1% during the 4th quarter. Packer & Co Ltd now owns 1,364,800 shares of the oil and gas producer’s stock worth $55,274,000 after acquiring an additional 125,000 shares in the last quarter. Institutional investors own 87.29% of the company’s stock.

HES has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $86.00 price objective (up from $83.00) on shares of Hess in a research note on Monday, September 17th. Morgan Stanley reissued a “buy” rating and set a $87.00 price objective (up from $84.00) on shares of Hess in a research note on Tuesday, September 18th. MKM Partners initiated coverage on Hess in a research note on Wednesday, December 5th. They set a “buy” rating and a $73.00 price objective for the company. Stephens set a $77.00 price objective on Hess and gave the stock a “buy” rating in a research note on Monday, December 17th. Finally, Barclays raised Hess from an “underweight” rating to an “equal weight” rating and set a $66.00 price objective for the company in a research note on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Hess has an average rating of “Hold” and an average target price of $68.87.

In other news, insider Michael R. Turner sold 4,142 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.09% of the company’s stock.

Shares of Hess stock traded down $0.18 during midday trading on Monday, hitting $51.09. The company’s stock had a trading volume of 102,970 shares, compared to its average volume of 6,652,374. The stock has a market cap of $14.86 billion, a PE ratio of -10.99, a price-to-earnings-growth ratio of 155.67 and a beta of 1.70. 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 1-year low of $35.59 and a 1-year high of $74.81.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. Hess’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.07) earnings per share. Analysts expect that Hess Corp. will post -0.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. Hess’s dividend payout ratio (DPR) is presently -21.69%.

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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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