Hess Corp. (HES) Stake Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Hess Corp. (NYSE:HES) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,100 shares of the oil and gas producer’s stock after selling 1,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Hess were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HES. Canada Pension Plan Investment Board increased its holdings in shares of Hess by 1,660.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 267,695 shares of the oil and gas producer’s stock valued at $19,162,000 after purchasing an additional 252,485 shares during the period. Palo Capital Inc. acquired a new position in shares of Hess in the 3rd quarter valued at about $116,000. Royal London Asset Management Ltd. increased its holdings in Hess by 1.9% in the third quarter. Royal London Asset Management Ltd. now owns 197,857 shares of the oil and gas producer’s stock worth $14,164,000 after buying an additional 3,664 shares during the last quarter. Three Peaks Capital Management LLC acquired a new position in Hess in the third quarter worth approximately $2,506,000. Finally, Trinity Street Asset Management LLP increased its holdings in Hess by 12.1% in the third quarter. Trinity Street Asset Management LLP now owns 555,632 shares of the oil and gas producer’s stock worth $39,772,000 after buying an additional 59,879 shares during the last quarter. 87.82% of the stock is owned by institutional investors.

Shares of HES stock opened at $56.00 on Thursday. The firm has a market capitalization of $16.78 billion, a P/E ratio of -75.68 and a beta of 1.93. Hess Corp. has a one year low of $35.59 and a one year high of $74.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 2.16.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Hess had a negative return on equity of 0.73% and a negative net margin of 2.91%. Hess’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the business earned ($1.01) earnings per share. As a group, sell-side analysts predict that Hess Corp. will post -0.7 earnings per share for the current fiscal year.

A number of research firms recently commented on HES. Stephens downgraded Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective on the stock. in a report on Tuesday, January 29th. They noted that the move was a valuation call. MKM Partners increased their price objective on Hess to $79.00 and gave the stock a “buy” rating in a report on Thursday, December 13th. ValuEngine downgraded Hess from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Credit Suisse Group reaffirmed a “hold” rating and set a $61.00 target price on shares of Hess in a research report on Monday, December 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 target price on shares of Hess in a research report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.27.

In other news, CEO John B. Hess sold 167,834 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $52.84, for a total value of $8,868,348.56. Following the completion of the sale, the chief executive officer now directly owns 1,871,958 shares in the company, valued at $98,914,260.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gregory P. Hill sold 11,659 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $53.40, for a total value of $622,590.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 430,416 shares of company stock valued at $23,360,981. 12.09% of the stock is owned by company 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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