BI Asset Management Fondsmaeglerselskab A S Takes $1.41 Million Position in Hess Co. (NYSE:HES)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,570 shares of the oil and gas producer's stock, valued at approximately $1,406,000.

Other large investors also recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new position in shares of Hess during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in Hess during the 4th quarter worth approximately $27,000. Millstone Evans Group LLC purchased a new stake in shares of Hess in the 4th quarter valued at approximately $33,000. Rialto Wealth Management LLC acquired a new stake in shares of Hess in the 4th quarter valued at $37,000. Finally, Zions Bancorporation N.A. lifted its position in shares of Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Insider Transactions at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.10% of the company's stock.

Hess Stock Up 3.2 %

HES stock opened at $130.40 on Wednesday. The company has a market cap of $40.20 billion, a price-to-earnings ratio of 14.49 and a beta of 0.88. The company has a fifty day moving average price of $144.46 and a 200 day moving average price of $142.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, March 17th. Hess's payout ratio is currently 22.22%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank dropped their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Pickering Energy Partners upgraded Hess to a "hold" rating in a report on Friday, January 3rd. Susquehanna decreased their target price on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research note on Tuesday. UBS Group dropped their price target on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, StockNews.com started coverage on shares of Hess in a research report on Saturday. They set a "hold" rating for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $164.46.

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.

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