Eaton Vance Management grew its position in shares of Hess Corp. (NYSE:HES) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,408 shares of the oil and gas producer’s stock after buying an additional 16,805 shares during the quarter. Eaton Vance Management’s holdings in Hess were worth $7,116,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of HES. Forsta AP Fonden purchased a new stake in shares of Hess during the second quarter valued at approximately $34,368,000. Prudential Financial Inc. boosted its holdings in Hess by 170.5% in the third quarter. Prudential Financial Inc. now owns 804,189 shares of the oil and gas producer’s stock worth $57,564,000 after purchasing an additional 506,900 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Hess by 121.6% in the third quarter. Janus Henderson Group PLC now owns 659,172 shares of the oil and gas producer’s stock worth $47,184,000 after purchasing an additional 361,672 shares during the last quarter. FIL Ltd purchased a new stake in Hess in the third quarter worth approximately $21,289,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Hess by 1,660.0% in the third quarter. Canada Pension Plan Investment Board now owns 267,695 shares of the oil and gas producer’s stock worth $19,162,000 after purchasing an additional 252,485 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Several equities research analysts recently issued reports on HES shares. KLR Group restated a “hold” rating and issued a $74.00 target price on shares of Hess in a report on Monday, August 20th. Bank of America restated a “buy” rating and issued a $86.00 target price (up previously from $83.00) on shares of Hess in a report on Monday, September 17th. Credit Suisse Group set a $61.00 target price on shares of Hess and gave the stock a “hold” rating in a report on Monday, September 17th. Morgan Stanley restated a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Hess in a report on Tuesday, September 18th. Finally, Piper Jaffray Companies cut shares of Hess from an “overweight” rating to a “neutral” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Hess has an average rating of “Hold” and a consensus price target of $68.00.
Shares of HES stock opened at $53.37 on Friday. Hess Corp. has a 12-month low of $40.37 and a 12-month high of $74.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.16 and a current ratio of 2.30. The company has a market capitalization of $16.27 billion, a P/E ratio of -11.58, a P/E/G ratio of 549.20 and a beta of 1.55.
Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The business had revenue of $1.83 billion for 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 quarter last year, the company posted ($1.07) EPS. As a group, equities analysts predict that Hess Corp. will post 0.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, December 14th. Hess’s dividend payout ratio is presently -21.69%.
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Hess Company 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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