5,394 Shares in Hess Co. (NYSE:HES) Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. bought a new position in shares of Hess Co. (NYSE:HES - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,394 shares of the oil and gas producer's stock, valued at approximately $862,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Hess by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer's stock worth $4,408,117,000 after purchasing an additional 296,406 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Hess by 6.5% in the 4th 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 purchasing an additional 698,866 shares during the period. HBK Investments L P raised its holdings in Hess by 1.7% in the 4th quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer's stock valued at $962,715,000 after acquiring an additional 120,091 shares in the last quarter. Geode Capital Management LLC raised its holdings in Hess by 2.4% in 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 acquiring an additional 158,371 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Hess by 2.4% in the 4th 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 acquiring an additional 91,131 shares in the last quarter. Institutional investors own 88.51% of the company's stock.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the 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 completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 650,000 shares of company stock valued at $91,845,500 in the last ninety days. Company insiders own 9.10% of the company's stock.

Hess Price Performance

HES traded up $1.01 during trading on Friday, hitting $142.15. 2,618,057 shares of the company traded hands, compared to its average volume of 1,799,923. Hess Co. has a 1 year low of $123.79 and a 1 year high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The stock's 50-day simple moving average is $132.51 and its two-hundred day simple moving average is $140.17. The company has a market cap of $43.97 billion, a PE ratio of 15.79 and a beta of 0.62.

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

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, June 16th. Hess's payout ratio is 27.66%.

Wall Street Analysts Forecast Growth

HES has been the subject of a number of recent research reports. Wall Street Zen raised Hess from a "sell" rating to a "hold" rating in a report on Saturday. Susquehanna reduced their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Mizuho reduced their price target on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Scotiabank cut their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group raised their price objective on Hess from $163.00 to $173.00 and gave the company a "buy" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $163.16.

Hess Company 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.