23,436 Shares in Hess Co. (NYSE:HES) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 23,436 shares of the oil and gas producer's stock, valued at approximately $3,117,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in Hess in the 4th quarter valued at $2,274,000. Czech National Bank boosted its holdings in Hess by 6.4% in the 4th quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer's stock valued at $7,971,000 after purchasing an additional 3,625 shares during the period. Franklin Resources Inc. boosted its holdings in Hess by 20.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer's stock valued at $169,767,000 after purchasing an additional 208,996 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Hess by 34.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 19,235 shares of the oil and gas producer's stock valued at $2,558,000 after purchasing an additional 4,891 shares during the period. Finally, Paragon Capital Management Inc. bought a new stake in Hess in the 4th quarter valued at $1,513,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 92,894 shares of the firm's stock in a transaction dated 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 approximately $33,914,927. This trade represents a 28.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.76% of the company's stock.

Hess Price Performance

HES stock traded up $1.92 during trading on Thursday, hitting $151.19. 1,023,738 shares of the stock traded hands, compared to its average volume of 1,953,813. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The stock has a market cap of $46.58 billion, a price-to-earnings ratio of 16.80 and a beta of 1.17. The company has a 50 day simple moving average of $140.66 and a 200 day simple moving average of $138.92. 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 (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Equities analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, December 16th. Hess's payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HES shares. UBS Group increased their price target on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Pickering Energy Partners raised shares of Hess to a "hold" rating in a report on Friday, January 3rd. Citigroup raised their price objective on shares of 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 shares of Hess in a report on Friday, February 14th. They set a "hold" rating for the company. Finally, Wells Fargo & Company raised shares of Hess from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.60.

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.