Proficio Capital Partners LLC Invests $15.17 Million in Hess Co. (NYSE:HES)

Proficio Capital Partners LLC acquired a new stake in Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 114,014 shares of the oil and gas producer's stock, valued at approximately $15,165,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Hess in the 4th quarter valued at $27,000. Groupama Asset Managment grew its holdings 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 buying an additional 4,186 shares in the last quarter. Covestor Ltd grew its holdings 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 buying an additional 98 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Hess in the 3rd quarter valued at $37,000. Finally, LRI Investments LLC grew its holdings 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. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Down 3.4 %

HES stock traded down $5.11 during mid-day trading on Monday, reaching $143.83. The company had a trading volume of 2,527,748 shares, compared to its average volume of 1,954,323. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 15.98 and a beta of 1.17. The firm has a fifty day simple moving average of $142.93 and a 200 day simple moving average of $139.75. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (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%. Analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, December 16th. Hess's dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

HES has been the subject of several analyst reports. UBS Group upped their target price on Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Citigroup increased their price target on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. StockNews.com began coverage on Hess in a report on Sunday. They set a "hold" rating for the company. Pickering Energy Partners upgraded Hess to a "hold" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six 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 has an average rating of "Moderate Buy" and a consensus target price of $170.60.

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.