Colrain Capital LLC Acquires Shares of 86,150 Hess Co. (NYSE:HES)

Colrain Capital LLC acquired a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 86,150 shares of the oil and gas producer's stock, valued at approximately $11,459,000. Hess comprises 11.2% of Colrain Capital LLC's investment portfolio, making the stock its 2nd largest holding.

Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its holdings in Hess by 3.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock valued at $287,000 after purchasing an additional 72 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock valued at $528,000 after purchasing an additional 73 shares during the period. Moss Adams Wealth Advisors LLC raised its stake in shares of Hess by 5.3% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer's stock worth $224,000 after buying an additional 85 shares during the period. Howard Capital Management Inc. lifted its position in shares of Hess by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock valued at $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer's stock worth $84,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 88.51% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently commented on HES shares. UBS Group boosted their price target on Hess from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company upgraded Hess from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Citigroup increased their price objective on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Pickering Energy Partners upgraded Hess to a "hold" rating in a research report on Friday, January 3rd. Finally, StockNews.com initiated coverage on Hess in a research report on Thursday. They set a "hold" rating for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.60.

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.76% of the stock is owned by insiders.

Hess Stock Down 7.8 %

Hess stock traded down $11.54 during mid-day trading on Friday, reaching $136.84. 1,551,131 shares of the company's stock were exchanged, compared to its average volume of 1,867,852. The company has a fifty day moving average of $148.58 and a 200-day moving average of $142.62. The company has a market cap of $42.19 billion, a P/E ratio of 15.17 and a beta of 0.88. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98.

Hess (NYSE:HES - Get Free Report) last released its 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%. Sell-side analysts expect that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.46%. Hess's payout ratio is 22.22%.

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.