Freestone Capital Holdings LLC Grows Stock Holdings in Hess Co. (NYSE:HES)

Freestone Capital Holdings LLC increased its holdings in Hess Co. (NYSE:HES - Free Report) by 95.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,844 shares of the oil and gas producer's stock after buying an additional 7,252 shares during the period. Freestone Capital Holdings LLC's holdings in Hess were worth $1,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Hess in the 4th quarter worth approximately $31,225,000. Aigen Investment Management LP boosted its holdings in Hess by 74.6% in the 4th quarter. Aigen Investment Management LP now owns 18,761 shares of the oil and gas producer's stock valued at $2,495,000 after purchasing an additional 8,016 shares during the period. Proficio Capital Partners LLC bought a new position in Hess in the 4th quarter valued at $15,165,000. M&T Bank Corp boosted its holdings in Hess by 5.7% in the 4th quarter. M&T Bank Corp now owns 11,385 shares of the oil and gas producer's stock valued at $1,514,000 after purchasing an additional 615 shares during the period. Finally, Assetmark Inc. boosted its holdings in Hess by 6.6% in the 4th quarter. Assetmark Inc. now owns 17,741 shares of the oil and gas producer's stock valued at $2,360,000 after purchasing an additional 1,098 shares during the period. 88.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HES. Pickering Energy Partners raised shares of Hess to a "hold" rating in a report on Friday, January 3rd. Citigroup raised their price target on shares of 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 shares of Hess from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. UBS Group raised 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. Finally, StockNews.com began coverage on shares of Hess in a report on Sunday, March 2nd. They issued a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $170.60.

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Hess Price Performance

Shares of NYSE HES traded up $4.39 during mid-day trading on Friday, reaching $147.73. 1,408,437 shares of the company were exchanged, compared to its average volume of 1,974,124. The stock has a market capitalization of $45.55 billion, a PE ratio of 16.41 and a beta of 1.21. The company's 50 day moving average price is $143.99 and its 200 day moving average price is $139.94. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. 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 (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 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%. Sell-side analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Monday, March 17th. Hess's payout ratio is presently 22.22%.

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.