MetLife Investment Advisors LLC Trims Holdings in Hess Corp. (HES)
MetLife Investment Advisors LLC reduced its position in Hess Corp. (NYSE:HES) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,184 shares of the oil and gas producer’s stock after selling 2,065 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Hess were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of HES. Lindbrook Capital LLC bought a new position in shares of Hess during the fourth quarter worth $26,000. NuWave Investment Management LLC raised its stake in Hess by 266.5% during the fourth quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares in the last quarter. Rational Advisors LLC raised its stake in Hess by 266.5% during the fourth quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares in the last quarter. Parallel Advisors LLC raised its stake in Hess by 26.2% during the fourth quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 233 shares in the last quarter. Finally, Palo Capital Inc. purchased a new stake in Hess during the third quarter valued at $116,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
A number of research firms recently issued reports on HES. Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price target on the stock. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $57.00 price target on shares of Hess and gave the company a “sell” rating in a research note on Friday, December 7th. MKM Partners upped their price target on shares of Hess to $79.00 and gave the company a “buy” rating in a research note on Thursday, December 13th. Zacks Investment Research raised shares of Hess from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Finally, Credit Suisse Group set a $61.00 price target on shares of Hess and gave the company a “hold” rating in a research note on Monday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $69.31.
Shares of HES opened at $60.26 on Thursday. Hess Corp. has a twelve month low of $35.59 and a twelve month high of $74.81. The firm has a market capitalization of $18.51 billion, a PE ratio of -81.43 and a beta of 1.95. The company has a current ratio of 2.02, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.
Hess (NYSE:HES) last announced its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.10. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm posted ($1.01) earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Hess Corp. will post -0.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 15th. Hess’s dividend payout ratio is currently -135.14%.
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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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