Stock Traders Purchase Large Volume of Hess Put Options (NYSE:HES)

Hess Co. (NYSE:HES) was the target of some unusual options trading activity on Thursday. Stock traders purchased 30,283 put options on the company. This is an increase of 1,436% compared to the average volume of 1,972 put options.

Hess Stock Performance

HES stock traded down $1.42 on Thursday, hitting $159.10. The company’s stock had a trading volume of 2,169,176 shares, compared to its average volume of 1,762,735. The stock has a market cap of $49.05 billion, a price-to-earnings ratio of 17.68 and a beta of 1.21. The firm has a 50 day moving average of $147.45 and a two-hundred day moving average of $141.46. 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 has a 1 year low of $123.79 and a 1 year high of $163.98.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping 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 predict that Hess will post 8.08 EPS for the current fiscal 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

Several research firms recently weighed in on HES. Citigroup lifted their target price on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. StockNews.com started coverage on Hess in a report on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $151.00 to $193.00 in a report on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, UBS Group increased their price target 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Institutional Investors Weigh In On Hess

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Hess by 19.1% in the third quarter. Thrivent Financial for Lutherans now owns 16,369 shares of the oil and gas producer’s stock valued at $2,224,000 after acquiring an additional 2,630 shares in the last quarter. Cerity Partners LLC boosted its holdings in Hess by 10.3% in the 3rd quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer’s stock valued at $2,561,000 after purchasing an additional 1,764 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Hess by 12.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 33,878 shares of the oil and gas producer’s stock worth $4,601,000 after purchasing an additional 3,640 shares during the period. Brooklyn Investment Group purchased a new position in shares of Hess during the 3rd quarter worth approximately $114,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Hess by 1.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 397,926 shares of the oil and gas producer’s stock valued at $54,038,000 after buying an additional 4,287 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Company 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.