Hess Co. (NYSE:HES) Shares Purchased by Brooklyn Investment Group

Brooklyn Investment Group raised its position in Hess Co. (NYSE:HES) by 69.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,420 shares of the oil and gas producer’s stock after purchasing an additional 581 shares during the quarter. Brooklyn Investment Group’s holdings in Hess were worth $189,000 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. Groupama Asset Managment increased its position in Hess by 22.7% in the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 4,186 shares during the period. 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. Eastern Bank acquired a new stake in Hess in the third quarter worth about $48,000. Finally, LRI Investments LLC grew its position 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 buying an additional 217 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

HES stock opened at $151.33 on Friday. The firm has a 50-day moving average of $140.66 and a two-hundred day moving average of $139.57. The firm has a market capitalization of $46.63 billion, a PE ratio of 17.64 and a beta of 1.18. 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 Co. has a one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that Hess Co. will post 9.51 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 of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Hess’s dividend payout ratio is 23.31%.

Insider Buying and Selling

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,370 shares of company stock valued at $45,856,309. Corporate insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HES. Susquehanna boosted their price target on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. UBS Group lifted their price target on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com started coverage on Hess in a research note on Monday, January 13th. They set a “hold” rating for the company. Finally, BMO Capital Markets boosted their price target on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.50.

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.