Partners in Financial Planning Invests $598,000 in Hess Co. (NYSE:HES)

Partners in Financial Planning acquired a new stake in shares of Hess Co. (NYSE:HES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,496 shares of the oil and gas producer’s stock, valued at approximately $598,000.

Several other hedge funds also recently added to or reduced their stakes in HES. Cerity Partners LLC lifted its position in shares of Hess by 10.3% during the third quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer’s stock worth $2,561,000 after purchasing an additional 1,764 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Hess during the third quarter valued at approximately $298,000. Glenmede Trust Co. NA lifted its holdings in Hess by 37.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer’s stock worth $336,000 after buying an additional 680 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of Hess in the 3rd quarter valued at approximately $1,052,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Hess during the 3rd quarter valued at approximately $37,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Down 0.4 %

HES opened at $158.48 on Monday. The stock’s 50 day moving average price is $147.78 and its 200 day moving average price is $142.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market cap of $48.86 billion, a P/E ratio of 17.61 and a beta of 1.21. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

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 analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, research analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio is currently 22.22%.

Insider Activity

In other news, CEO John B. Hess sold 175,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 9.76% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the subject of a number of research reports. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Citigroup lifted their target price on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. StockNews.com began coverage on Hess in a research report on Wednesday, March 26th. They set a “hold” rating on the stock. Finally, UBS Group boosted their price objective on Hess from $185.00 to $186.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat, Hess has an average 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.