Calamos Wealth Management LLC lifted its holdings in Hess Corp. (NYSE:HES) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,278 shares of the oil and gas producer’s stock after purchasing an additional 1,485 shares during the quarter. Calamos Wealth Management LLC’s holdings in Hess were worth $486,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Trinity Street Asset Management LLP boosted its stake in Hess by 4.3% during the fourth quarter. Trinity Street Asset Management LLP now owns 592,292 shares of the oil and gas producer’s stock worth $39,571,000 after buying an additional 24,171 shares during the period. First Hawaiian Bank purchased a new position in Hess during the fourth quarter worth $220,000. Metropolitan Life Insurance Co NY boosted its stake in Hess by 2.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 39,043 shares of the oil and gas producer’s stock worth $2,361,000 after buying an additional 784 shares during the period. Squarepoint Ops LLC purchased a new position in Hess during the third quarter worth $2,806,000. Finally, Castleark Management LLC purchased a new position in Hess during the third quarter worth $4,962,000. 86.64% of the stock is owned by hedge funds and other institutional investors.
NYSE:HES opened at $70.08 on Thursday. Hess Corp. has a twelve month low of $50.08 and a twelve month high of $74.11. The company has a market cap of $21.35 billion, a price-to-earnings ratio of -94.70 and a beta of 2.02. The stock has a fifty day simple moving average of $65.41 and a 200-day simple moving average of $64.18. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 0.70.
Hess (NYSE:HES) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). Hess had a negative return on equity of 1.62% and a negative net margin of 2.82%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, equities research analysts predict that Hess Corp. will post -0.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. Hess’s dividend payout ratio (DPR) is -135.14%.
HES has been the subject of several recent analyst reports. Bank of America reaffirmed a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Hess in a research note on Monday, October 7th. MKM Partners set a $80.00 price objective on shares of Hess and gave the stock a “buy” rating in a research note on Friday, November 1st. Scotiabank initiated coverage on shares of Hess in a research note on Tuesday, November 12th. They set an “underperform” rating for the company. Cfra lowered shares of Hess from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Cowen initiated coverage on shares of Hess in a research note on Thursday, December 5th. They set a “market perform” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Hess has a consensus rating of “Hold” and a consensus price target of $73.27.
In other news, SVP Richard D. Lynch sold 36,329 shares of Hess stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.75, for a total transaction of $2,679,263.75. Following the completion of the sale, the senior vice president now directly owns 21,333 shares in the company, valued at $1,573,308.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John P. Rielly sold 49,740 shares of Hess stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $70.54, for a total value of $3,508,659.60. Following the sale, the chief financial officer now owns 238,859 shares of the company’s stock, valued at $16,849,113.86. The disclosure for this sale can be found here. 12.22% of the stock is currently owned by company insiders.
Hess Corporation, an exploration and production company, explores for, 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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