Hess Co. (NYSE:HES) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC trimmed its holdings in Hess Co. (NYSE:HES) by 68.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 182,463 shares of the oil and gas producer’s stock after selling 398,546 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Hess worth $26,917,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Hess by 0.9% in the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock worth $4,903,793,000 after acquiring an additional 294,146 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Hess by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after buying an additional 726,631 shares during the period. Alpine Associates Management Inc. purchased a new position in shares of Hess during the fourth quarter worth $237,100,000. Charles Schwab Investment Management Inc. boosted its position in shares of Hess by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,595,234 shares of the oil and gas producer’s stock worth $229,969,000 after buying an additional 48,457 shares during the period. Finally, KRYGER CAPITAL Ltd boosted its position in shares of Hess by 44.0% during the first quarter. KRYGER CAPITAL Ltd now owns 1,103,212 shares of the oil and gas producer’s stock worth $168,394,000 after buying an additional 337,238 shares during the period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

Shares of NYSE:HES opened at $138.06 on Tuesday. Hess Co. has a 12 month low of $130.35 and a 12 month high of $167.75. The firm has a market capitalization of $42.54 billion, a price-to-earnings ratio of 21.14 and a beta of 1.16. The business’s 50 day simple moving average is $143.23 and its 200-day simple moving average is $148.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. Hess’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, equities analysts forecast that Hess Co. will post 11.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on HES shares. Citigroup raised their price target on Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Mizuho raised their price target on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. StockNews.com started coverage on Hess in a research note on Friday, June 28th. They issued a “hold” rating on the stock. BMO Capital Markets cut Hess to an “overweight” rating and cut their price target for the company from $175.00 to $160.00 in a research note on Monday, August 19th. Finally, UBS Group cut their price target on Hess from $193.00 to $192.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $175.77.

Hess Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.