Hartford Investment Management Co. reduced its position in Hess Co. (NYSE: HES – Get Rating ) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,987 shares of the oil and gas producer’s stock after selling 1,971 shares during the period. Hartford Investment Management Co.’s holdings. in Hess were worth $2,782,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in HES. City State Bank bought a new stake in shares of Hess in the 4th quarter valued at about $25,000. Moors & Cabot Inc. bought a new stake in shares of Hess in the third quarter valued at about $27,000. Citizens National Bank Trust Department bought a new stake in shares of Hess in the 4th quarter valued at about $37,000. Level Financial Advisors Inc. purchased a new stake in shares of Hess in the 4th quarter worth about $56,000. Finally, JCIC Asset Management Inc. grew its holdings in shares of Hess by 32.0% in the 4th quarter. JCIC Asset Management Inc. now owns 886 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 82.51% of the company’s shares.
HES opened at $105.39 on Friday. Hess Co. has a 12-month low of $61.93 and a 12-month high of $131.43. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.15. The firm has a market cap of $32.80 billion, a PE ratio of 45.43 and a beta of 1.66. The firm has a 50-day moving average of $113.51 and a 200-day moving average of $101.47.
Hess (NYSE:HES – Get Rating ) last posted its quarterly earnings results on Wednesday, April 27th. The oil and gas producer reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Hess had a net margin of 9.01% and a return on equity of 12.35%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ estimates of $2.05 billion. During the same period last year, the firm reported $0.82 EPS. Hess’s revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, analysts predict that Hess Co. will post 8.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.375 per share. This represents an annualized dividend of $1.50 and a yield of 1.42%. The ex-dividend date was Tuesday, June 14th. Hess’s dividend payout ratio is currently 64.66%.
A number of research firms have recently weighed in on HES. Susquehanna boosted their target price on shares of Hess from $118.00 to $138.00 and gave the company a “positive” rating in a report on Monday, April 25th. Citigroup cut shares of Hess from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $126.00 to $100.00 in a research note on Friday, June 24th. Susquehanna Bancshares upped their target price on shares of Hess from $118.00 to $138.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. Mizuho boosted their target price on shares of Hess from $139.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. Finally, Wells Fargo & Company upped their target price on shares of Hess from $106.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Hess currently has an average rating of “Moderate Buy” and a consensus target price of $128.27, according to MarketBeat.com .
In other news, SVP Barbara J. Lowery-Yilmaz sold 36,260 shares of Hess stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $128.29, for a total transaction of $4,651,795.40. Following the completion of the transaction, the senior vice president now directly owns 95,624 shares of the company’s stock, valued at approximately $12,267,602.96. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 9.93% of shares are owned by insiders.
About Hess (Get Rating)
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 has manufacturing operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Zone and Malaysia; and exploration activities primarily offshore Guyana, USA
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