Skandinaviska Enskilda Banken AB publ Acquires 7,100 Shares of Hess Corporation (HES)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Hess Corporation (NYSE:HES) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,676 shares of the oil and gas producer’s stock after purchasing an additional 7,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Hess were worth $1,907,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in Hess by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock valued at $108,000 after purchasing an additional 167 shares in the last quarter. Korea Investment CORP increased its stake in Hess by 142.0% in the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 1,552 shares in the last quarter. Legacy Advisors LLC bought a new stake in Hess in the third quarter valued at $134,000. Advisor Group Inc. increased its stake in Hess by 9.7% in the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 362 shares in the last quarter. Finally, Point View Wealth Management Inc. bought a new stake in Hess in the third quarter valued at $208,000. Institutional investors own 89.73% of the company’s stock.

In related news, insider Brian D. Truelove sold 6,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.80% of the stock is currently owned by insiders.

Several research firms have weighed in on HES. Scotiabank set a $52.00 price target on shares of Hess and gave the company a “buy” rating in a research note on Friday, August 11th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Hess in a research note on Saturday, September 16th. Zacks Investment Research downgraded shares of Hess from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. BMO Capital Markets set a $45.00 price target on shares of Hess and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $47.00 price target on shares of Hess and gave the company a “buy” rating in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $51.79.

Hess Corporation (NYSE:HES) traded down $1.62 during trading hours on Thursday, hitting $44.67. 3,129,400 shares of the stock traded hands, compared to its average volume of 4,145,214. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46. Hess Corporation has a one year low of $37.25 and a one year high of $65.56.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.22. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned ($1.12) earnings per share. The firm’s revenue for the quarter was up 39.3% compared to the same quarter last year. equities analysts predict that Hess Corporation will post -4.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, December 15th. Hess’s dividend payout ratio (DPR) is presently -4.95%.

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About Hess

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, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Institutional Ownership by Quarter for Hess (NYSE:HES)

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