Point View Wealth Management Inc. Invests $208,000 in Hess Co. (HES) Stock

Point View Wealth Management Inc. bought a new position in shares of Hess Co. (NYSE:HES) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,427 shares of the oil and gas producer’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HES. Oppenheimer Asset Management Inc. raised its stake in Hess by 7.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 167 shares in the last quarter. Korea Investment CORP raised its stake in Hess by 142.0% during the second quarter. Korea Investment CORP now owns 2,645 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 1,552 shares in the last quarter. Legacy Advisors LLC acquired a new position in Hess during the third quarter worth about $134,000. Advisor Group Inc. raised its stake in Hess by 9.7% during the second quarter. Advisor Group Inc. now owns 4,107 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 362 shares in the last quarter. Finally, Welch & Forbes LLC raised its stake in Hess by 1.0% during the second quarter. Welch & Forbes LLC now owns 4,668 shares of the oil and gas producer’s stock worth $205,000 after acquiring an additional 46 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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HES has been the subject of several research analyst reports. BidaskClub downgraded Hess from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. BMO Capital Markets set a $42.00 target price on Hess and gave the stock a “hold” rating in a research note on Friday, July 28th. Scotiabank set a $52.00 target price on Hess and gave the stock a “buy” rating in a research note on Friday, August 11th. Cowen and Company reissued a “hold” rating and set a $50.00 target price on shares of Hess in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $47.00 target price on Hess and gave the stock a “buy” rating in a research note on Friday, August 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.79.

Shares of Hess Co. (HES) traded down $0.99 during mid-day trading on Tuesday, reaching $43.56. The company had a trading volume of 2,784,900 shares, compared to its average volume of 4,167,071. Hess Co. has a 1-year low of $37.25 and a 1-year high of $65.56. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.29) by $0.22. Hess had a negative return on equity of 18.93% and a negative net margin of 42.60%. 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 prior year, the business posted ($1.12) earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis. sell-side analysts anticipate that Hess Co. will post -4.64 EPS for the current fiscal year.

In other Hess news, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was 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 is available through this hyperlink. Also, COO Gregory P. Hill sold 11,726 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.37, for a total value of $449,926.62. The disclosure for this sale can be found here. Corporate insiders own 11.80% of the company’s stock.

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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