CIBC Asset Management Inc Acquires 1,861 Shares of Hess Co. (NYSE:HES)

CIBC Asset Management Inc raised its holdings in Hess Co. (NYSE:HES) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,085 shares of the oil and gas producer’s stock after purchasing an additional 1,861 shares during the period. CIBC Asset Management Inc’s holdings in Hess were worth $5,731,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Sierra Ocean LLC bought a new stake in Hess in the 4th quarter valued at about $27,000. Strategic Financial Concepts LLC bought a new stake in shares of Hess during the 4th quarter worth approximately $3,117,000. Principal Securities Inc. lifted its holdings in shares of Hess by 276.0% during the 4th quarter. Principal Securities Inc. now owns 722 shares of the oil and gas producer’s stock worth $96,000 after acquiring an additional 530 shares during the period. Roxbury Financial LLC bought a new stake in shares of Hess during the 4th quarter worth approximately $72,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Hess during the 4th quarter worth approximately $207,000. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.8 %

Shares of NYSE HES opened at $149.21 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The firm has a 50 day moving average price of $140.53 and a two-hundred day moving average price of $138.85. The stock has a market cap of $45.97 billion, a P/E ratio of 16.58 and a beta of 1.17.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, equities analysts forecast that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio (DPR) is currently 22.22%.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the sale, the chief executive officer now directly owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. This represents a 28.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

HES has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Hess in a report on Friday, February 14th. They set a “hold” rating for the company. Citigroup upped their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Finally, UBS Group upped their price objective on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Hess has a consensus rating of “Moderate Buy” and a consensus price target of $170.60.

Hess 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.