Creative Planning grew its position in shares of Hess Co. (NYSE:HES – Get Rating) by 35.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,152 shares of the oil and gas producer’s stock after acquiring an additional 3,186 shares during the quarter. Creative Planning’s holdings in Hess were worth $1,723,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Hess by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after acquiring an additional 667,979 shares during the last quarter. State Street Corp boosted its position in shares of Hess by 0.9% during the 3rd quarter. State Street Corp now owns 18,783,175 shares of the oil and gas producer’s stock valued at $2,047,178,000 after acquiring an additional 159,750 shares during the last quarter. Primecap Management Co. CA lifted its position in Hess by 0.5% in the third quarter. Primecap Management Co. CA now owns 9,372,740 shares of the oil and gas producer’s stock worth $1,021,535,000 after buying an additional 50,900 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Hess by 11.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,842,807 shares of the oil and gas producer’s stock worth $854,786,000 after buying an additional 801,336 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Hess by 51.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,493,096 shares of the oil and gas producer’s stock worth $816,673,000 after buying an additional 2,546,257 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.
Hess Stock Performance
Shares of Hess stock opened at $133.67 on Friday. The firm has a market cap of $41.04 billion, a P/E ratio of 19.15 and a beta of 1.57. The company has a current ratio of 1.65, a quick ratio of 1.55 and a debt-to-equity ratio of 0.98. Hess Co. has a 12 month low of $90.34 and a 12 month high of $160.52. The stock’s fifty day moving average price is $137.16 and its 200-day moving average price is $139.02.
Hess Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.75 annualized dividend and a yield of 1.31%. Hess’s dividend payout ratio (DPR) is presently 25.07%.
Wall Street Analysts Forecast Growth
HES has been the subject of a number of analyst reports. Raymond James raised their price target on Hess from $170.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Mizuho lowered their price target on Hess from $170.00 to $168.00 in a research report on Friday, May 19th. Morgan Stanley raised their price target on Hess from $156.00 to $158.00 in a research report on Monday, May 15th. UBS Group began coverage on Hess in a research report on Wednesday, April 19th. They set a “buy” rating and a $184.00 target price for the company. Finally, Barclays lifted their target price on Hess from $160.00 to $174.00 in a research report on Thursday, March 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess presently has an average rating of “Moderate Buy” and an average price target of $169.00.
Insider Buying and Selling at Hess
In other Hess news, SVP Richard D. Lynch sold 33,191 shares of Hess stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $138.84, for a total value of $4,608,238.44. Following the transaction, the senior vice president now owns 23,622 shares in the company, valued at $3,279,678.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, EVP Timothy B. Goodell sold 3,527 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $137.41, for a total value of $484,645.07. Following the completion of the sale, the executive vice president now owns 138,338 shares of the company’s stock, valued at $19,009,024.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard D. Lynch sold 33,191 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $138.84, for a total value of $4,608,238.44. Following the completion of the sale, the senior vice president now directly owns 23,622 shares of the company’s stock, valued at approximately $3,279,678.48. The disclosure for this sale can be found here. Insiders have sold 6,436,221 shares of company stock worth $174,102,591 over the last quarter. Insiders own 9.93% of the company’s stock.
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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