State of Tennessee Treasury Department lessened its position in shares of Hess Corp. (NYSE:HES) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,871 shares of the oil and gas producer’s stock after selling 16,287 shares during the period. State of Tennessee Treasury Department’s holdings in Hess were worth $3,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Norinchukin Bank The lifted its holdings in shares of Hess by 7.4% during the 4th quarter. Norinchukin Bank The now owns 21,593 shares of the oil and gas producer’s stock worth $1,025,000 after acquiring an additional 1,479 shares during the period. American International Group Inc. lifted its holdings in shares of Hess by 5.7% during the 4th quarter. American International Group Inc. now owns 141,973 shares of the oil and gas producer’s stock worth $6,739,000 after acquiring an additional 7,678 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of Hess by 34.6% during the 4th quarter. Wetherby Asset Management Inc. now owns 6,497 shares of the oil and gas producer’s stock worth $308,000 after acquiring an additional 1,671 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Hess by 417.6% during the 4th quarter. Systematic Financial Management LP now owns 715,294 shares of the oil and gas producer’s stock worth $33,955,000 after acquiring an additional 577,091 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Hess during the 4th quarter worth approximately $918,000. 91.79% of the stock is owned by institutional investors.

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Hess Corp. (NYSE HES) opened at $46.53 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.53 and a quick ratio of 2.43. Hess Corp. has a 12-month low of $37.25 and a 12-month high of $55.48. The stock has a market cap of $14,706.70, a P/E ratio of -3.56 and a beta of 1.60.

Hess (NYSE:HES) last announced its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted ($1.01) earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. equities research analysts predict that Hess Corp. will post -2.1 earnings per share for the current year.

In other Hess news, CEO John B. Hess sold 93,712 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $44.29, for a total value of $4,150,504.48. Following the completion of the transaction, the chief executive officer now directly owns 1,885,911 shares in the company, valued at approximately $83,526,998.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,347 shares of company stock valued at $5,157,584. Corporate insiders own 11.80% of the company’s stock.

Several equities analysts recently commented on the stock. BMO Capital Markets reissued a “hold” rating and issued a $50.00 price objective on shares of Hess in a research note on Thursday, January 11th. Credit Suisse Group assumed coverage on shares of Hess in a research note on Monday, December 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $52.00 price objective on shares of Hess in a research note on Friday, February 23rd. Morgan Stanley increased their price objective on shares of Hess from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Macquarie assumed coverage on shares of Hess in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $65.00 price objective for the company. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Hess currently has a consensus rating of “Hold” and a consensus target price of $52.28.

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Hess Company Profile

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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