CIBC Asset Management Inc Buys 1,861 Shares of Hess Co. (NYSE:HES)

CIBC Asset Management Inc lifted its stake in shares of Hess Co. (NYSE:HES - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,085 shares of the oil and gas producer's stock after purchasing an additional 1,861 shares during the period. CIBC Asset Management Inc's holdings in Hess were worth $5,731,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of HES. Sierra Ocean LLC bought a new position in shares of Hess during the fourth quarter worth about $27,000. Groupama Asset Managment lifted its holdings in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 4,186 shares during the last quarter. Covestor Ltd lifted its holdings in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 98 shares during the last quarter. FSA Wealth Management LLC bought a new position in Hess in the third quarter worth about $37,000. Finally, Eastern Bank bought a new position in Hess in the third quarter worth about $48,000. Institutional investors own 88.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HES shares. Pickering Energy Partners raised Hess to a "hold" rating in a report on Friday, January 3rd. Citigroup lifted their price target on Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company raised Hess from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. UBS Group lifted their price target on Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, StockNews.com started coverage on Hess in a report on Saturday. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $170.60.

Hess Price Performance

NYSE:HES traded down $3.00 during mid-day trading on Friday, hitting $147.96. The company's stock had a trading volume of 1,737,905 shares, compared to its average volume of 1,747,270. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 16.44 and a beta of 1.17. The stock has a fifty day moving average of $141.02 and a 200-day moving average of $139.17.

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, 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%. As a group, equities analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, December 16th. 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.