Sierra Ocean LLC Acquires New Stake in Hess Co. (NYSE:HES)

Sierra Ocean LLC acquired a new stake in Hess Co. (NYSE:HES) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 203 shares of the oil and gas producer’s stock, valued at approximately $27,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Hess by 59.8% in the 3rd 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 last quarter. FSA Wealth Management LLC acquired a new position in Hess in the 3rd quarter valued at $37,000. Eastern Bank acquired a new position in Hess in the 3rd quarter valued at $48,000. LRI Investments LLC raised its stake in Hess by 157.2% in the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 217 shares during the last quarter. Finally, Coastline Trust Co acquired a new position in Hess in the 3rd quarter valued at $55,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Performance

NYSE HES opened at $148.04 on Wednesday. The stock has a market cap of $45.61 billion, a PE ratio of 16.45 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 Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock has a fifty day simple moving average of $140.42 and a 200-day simple moving average of $138.78.

Hess (NYSE:HES) last announced its 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%. Equities analysts anticipate that Hess Co. will post 7.69 earnings per share for the current year.

Hess Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The stock was 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 owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.76% of the stock is currently owned by company insiders.

About Hess

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.