Barings LLC Trims Holdings in Hess Corp. (HES)

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Barings LLC reduced its stake in Hess Corp. (NYSE:HES) by 46.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,802 shares of the oil and gas producer’s stock after selling 103,746 shares during the period. Barings LLC’s holdings in Hess were worth $7,095,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC bought a new position in shares of Hess in the fourth quarter worth $26,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Hess by 3,900.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,080,934 shares during the period. NuWave Investment Management LLC boosted its holdings in shares of Hess by 266.5% in the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 605 shares during the period. Rational Advisors LLC boosted its holdings in shares of Hess by 266.5% in the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 605 shares during the period. Finally, Trustcore Financial Services LLC bought a new position in shares of Hess in the first quarter worth $35,000. 93.19% of the stock is owned by hedge funds and other institutional investors.

In other Hess news, SVP Timothy B. Goodell sold 3,946 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.90, for a total transaction of $232,419.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 63,806 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $66.62, for a total value of $4,250,755.72. The disclosure for this sale can be found here. Insiders have sold 147,173 shares of company stock valued at $9,377,165 in the last three months. 12.22% of the stock is owned by corporate insiders.

NYSE:HES opened at $59.01 on Friday. The firm has a market cap of $19.45 billion, a P/E ratio of -79.74 and a beta of 1.96. Hess Corp. has a 52-week low of $35.59 and a 52-week high of $74.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.69 and a quick ratio of 1.57.

Hess (NYSE:HES) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.35. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.27) earnings per share. Equities research analysts anticipate that Hess Corp. will post 0.23 EPS for the current year.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, April 30th. Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 15th. ValuEngine raised Hess from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. MKM Partners reaffirmed a “neutral” rating and issued a $71.00 price target on shares of Hess in a report on Tuesday, April 16th. Finally, Morgan Stanley set a $63.00 price objective on Hess and gave the company a “buy” rating in a research note on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $68.69.

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Hess Company Profile

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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