Hess Co. (NYSE:HES) Short Interest Update

Hess Co. (NYSE:HES - Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,310,000 shares, a drop of 22.8% from the October 15th total of 5,580,000 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 2.9 days.

Hess Trading Up 0.4 %

Hess stock traded up $0.58 during trading on Friday, reaching $145.64. The company had a trading volume of 1,937,328 shares, compared to its average volume of 2,105,841. The stock's 50 day moving average price is $136.42 and its two-hundred day moving average price is $143.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The firm has a market capitalization of $44.87 billion, a price-to-earnings ratio of 17.02 and a beta of 1.15. Hess 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 quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Hess will post 9.76 earnings per share for the current fiscal year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Hess's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, September 16th. Hess's payout ratio is presently 23.31%.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company's stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John B. Hess sold 90,476 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the transaction, the chief executive officer now owns 223,147 shares in the company, valued at $31,791,753.09. The trade was a 28.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.76% of the company's stock.

Institutional Investors Weigh In On Hess

A number of institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Hess in the 1st quarter valued at $25,000. Covestor Ltd lifted its holdings in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock worth $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Hess in the third quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its position in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer's stock worth $43,000 after purchasing an additional 88 shares during the period. Finally, Eastern Bank bought a new position in shares of Hess in the third quarter worth about $48,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on HES shares. Citigroup reduced their price objective on shares of Hess from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Mizuho dropped their price target on shares of Hess from $210.00 to $194.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. UBS Group decreased their price objective on shares of Hess from $192.00 to $173.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company cut their target price on shares of Hess from $171.00 to $151.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. Finally, StockNews.com initiated coverage on Hess in a research note on Sunday, November 10th. They issued a "hold" rating for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $163.30.

About Hess

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.