Hess Co. (NYSE:HES) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its stake in shares of Hess Co. (NYSE:HES - Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 173,073 shares of the oil and gas producer's stock after selling 13,096 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.06% of Hess worth $23,007,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Hess during the 4th quarter worth approximately $3,117,000. Manning & Napier Advisors LLC purchased a new stake in Hess in the fourth quarter worth $2,274,000. Czech National Bank lifted its position in shares of Hess by 6.4% during the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer's stock worth $7,971,000 after purchasing an additional 3,625 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Hess by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after purchasing an additional 82,703 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Hess by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock worth $5,731,000 after purchasing an additional 1,861 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Up 1.9 %

HES stock traded up $2.41 during trading on Thursday, reaching $132.44. 2,478,562 shares of the company traded hands, compared to its average volume of 1,887,819. The business has a 50 day simple moving average of $144.13 and a 200 day simple moving average of $142.05. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. 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 $40.83 billion, a price-to-earnings ratio of 14.72 and a beta of 0.88.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, equities research analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 17th. Hess's dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HES shares. Pickering Energy Partners raised shares of Hess to a "hold" rating in a research report on Friday, January 3rd. Susquehanna lowered their price target on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. StockNews.com initiated coverage on Hess in a report on Saturday, April 19th. They issued a "hold" rating for the company. Finally, Scotiabank dropped their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $164.46.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of the business'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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is owned by insiders.

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.