Cantor Fitzgerald L. P. Buys Shares of 3,668 Hess Co. (NYSE:HES)

Cantor Fitzgerald L. P. bought a new position in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,668 shares of the oil and gas producer's stock, valued at approximately $488,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HES. Vanguard Group Inc. increased its position in Hess by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer's stock worth $4,408,117,000 after buying an additional 296,406 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Hess by 6.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer's stock valued at $1,521,499,000 after buying an additional 698,866 shares during the period. HBK Investments L P boosted its position in Hess by 1.7% during the 4th quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer's stock worth $962,715,000 after purchasing an additional 120,091 shares during the period. Geode Capital Management LLC raised its holdings in shares of Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer's stock valued at $888,240,000 after buying an additional 158,371 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Hess by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer's stock valued at $511,325,000 after purchasing an additional 91,131 shares during the period. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Performance

NYSE:HES traded up $0.18 during mid-day trading on Wednesday, hitting $129.05. The stock had a trading volume of 842,370 shares, compared to its average volume of 1,826,723. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market cap of $39.92 billion, a price-to-earnings ratio of 14.34 and a beta of 0.61. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69. The company's 50 day simple moving average is $140.72 and its 200 day simple moving average is $141.52.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business's revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 EPS. On average, equities research analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Monday, March 17th. Hess's payout ratio is 27.66%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com assumed coverage on Hess in a report on Monday. They issued a "hold" rating for the company. UBS Group cut their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Scotiabank dropped their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Susquehanna lowered their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of "Hold" and an average price target of $164.46.

Insider Activity at Hess

In related news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is currently owned by company insiders.

About Hess

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.