FSA Wealth Management LLC Makes New $37,000 Investment in Hess Co. (NYSE:HES)

FSA Wealth Management LLC bought a new stake in Hess Co. (NYSE:HES) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 276 shares of the oil and gas producer’s stock, valued at approximately $37,000.

A number of other hedge funds have also made changes to their positions in HES. Primecap Management Co. CA lifted its position in Hess by 4.4% in the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after buying an additional 340,490 shares in the last quarter. HBK Investments L P increased its stake in shares of Hess by 16.7% in the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after acquiring an additional 1,017,720 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after acquiring an additional 785,270 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hess by 34.5% during the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after purchasing an additional 726,631 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Hess by 6.6% in the second quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock valued at $361,691,000 after purchasing an additional 150,945 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on HES. BMO Capital Markets increased their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. StockNews.com assumed coverage on shares of Hess in a report on Tuesday, November 26th. They set a “hold” rating on the stock. Mizuho decreased their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group cut their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Citigroup decreased their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $163.30.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 229,465 shares in the company, valued at $33,914,927. This trade represents a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 314,370 shares of company stock valued at $45,856,309. Company insiders own 9.76% of the company’s stock.

Hess Trading Up 0.3 %

Shares of Hess stock opened at $147.18 on Monday. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The company’s fifty day simple moving average is $140.25 and its 200-day simple moving average is $142.04. The company has a market cap of $45.35 billion, a price-to-earnings ratio of 17.15 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. As a group, sell-side analysts expect that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 23.31%.

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.