Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 159,100 shares of the oil and gas producer's stock, valued at approximately $21,162,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.05% of Hess at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp acquired a new stake in Hess during the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the fourth quarter worth $27,000. Millstone Evans Group LLC bought a new stake in shares of Hess during the fourth quarter worth $33,000. Rialto Wealth Management LLC bought a new stake in shares of Hess during the fourth quarter worth $37,000. Finally, Zions Bancorporation N.A. grew its stake in shares of Hess by 225.6% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after buying an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on HES. Scotiabank dropped their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Mizuho reduced their price objective on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen initiated coverage on shares of Hess in a research report on Wednesday, May 21st. They set a "hold" rating for the company. Susquehanna cut their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group decreased their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.
Get Our Latest Research Report on HES
Insider Buying and Selling
In related news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction on 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 $379,879,364.70. This represents a 6.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by insiders.
Hess Stock Performance
Shares of NYSE HES traded down $1.30 during midday trading on Friday, reaching $132.32. The company had a trading volume of 3,570,806 shares, compared to its average volume of 1,795,133. The business's 50-day simple moving average is $135.08 and its 200 day simple moving average is $140.80. The stock has a market cap of $40.93 billion, a P/E ratio of 14.70 and a beta of 0.61. 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.
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 firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The firm's quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.16 EPS. On average, analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.
Hess Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio (DPR) is currently 27.66%.
About Hess
(
Free Report)
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.
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