Hess Co. (NYSE:HES) Shares Purchased by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC raised its position in Hess Co. (NYSE:HES) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,384 shares of the oil and gas producer’s stock after purchasing an additional 118 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Hess were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Sierra Ocean LLC bought a new position in Hess in the 4th quarter worth approximately $27,000. Groupama Asset Managment grew its stake in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd increased its holdings in shares of Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Hess during the third quarter valued at about $37,000. Finally, Eastern Bank acquired a new stake in Hess in the third quarter worth about $48,000. Institutional investors own 88.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on HES shares. Citigroup boosted their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. UBS Group boosted their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. StockNews.com began coverage on Hess in a research note on Saturday. They set a “hold” rating for the company. Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Price Performance

HES stock opened at $147.96 on Friday. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The firm has a 50-day moving average of $140.87 and a two-hundred day moving average of $139.01. The firm has a market capitalization of $45.59 billion, a PE ratio of 16.44 and a beta of 1.17. 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) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 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%. On average, analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Hess’s dividend payout ratio is 22.22%.

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.