Boothbay Fund Management LLC bought a new position in Hess Co. (NYSE:HES – Get Rating) in the third quarter, according to its most recent filing with the SEC. The firm bought 2,549 shares of the oil and gas producer’s stock, valued at approximately $278,000.
Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA lifted its stake in Hess by 280.0% during the 3rd quarter. Private Trust Co. NA now owns 228 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 168 shares during the period. Zions Bancorporation N.A. lifted its stake in Hess by 92.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 300 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 144 shares during the period. Jones Financial Companies Lllp lifted its stake in Hess by 170.6% during the 2nd quarter. Jones Financial Companies Lllp now owns 322 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 203 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in Hess during the 3rd quarter valued at approximately $38,000. Finally, Parkside Financial Bank & Trust lifted its stake in Hess by 131.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 405 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 230 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.
Hess Price Performance
Shares of NYSE HES opened at $141.16 on Friday. Hess Co. has a one year low of $89.80 and a one year high of $160.52. The firm has a market cap of $43.22 billion, a PE ratio of 19.63 and a beta of 1.55. The firm has a fifty day moving average of $144.27 and a 200 day moving average of $135.06. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.66 and a current ratio of 1.64.
Hess Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Monday, March 13th will be issued a dividend of $0.438 per share. This is a positive change from Hess’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, March 10th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.24%. Hess’s dividend payout ratio is presently 24.34%.
Analysts Set New Price Targets
Several analysts have commented on HES shares. Morgan Stanley lifted their price objective on shares of Hess from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, January 19th. Susquehanna boosted their target price on shares of Hess from $179.00 to $185.00 in a research note on Thursday, January 26th. Citigroup boosted their target price on shares of Hess from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Wells Fargo & Company boosted their target price on shares of Hess from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hess from $155.00 to $153.00 in a research note on Monday, January 9th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Hess has an average rating of “Moderate Buy” and a consensus price target of $164.00.
Insider Transactions at Hess
In other news, CFO John P. Rielly sold 13,481 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $139.46, for a total transaction of $1,880,060.26. Following the completion of the sale, the chief financial officer now owns 308,982 shares of the company’s stock, valued at $43,090,629.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO John P. Rielly sold 13,481 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $139.46, for a total transaction of $1,880,060.26. Following the completion of the sale, the chief financial officer now owns 308,982 shares of the company’s stock, valued at $43,090,629.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy B. Goodell sold 27,413 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $139.78, for a total transaction of $3,831,789.14. Following the transaction, the executive vice president now directly owns 137,803 shares in the company, valued at approximately $19,262,103.34. The disclosure for this sale can be found here. Insiders sold 181,499 shares of company stock valued at $25,907,245 over the last 90 days. 9.93% of the stock is currently owned by corporate insiders.
Hess Profile
Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.
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