Korea Investment CORP Purchases 65,007 Shares of Hess Co. (NYSE:HES)

Korea Investment CORP boosted its position in shares of Hess Co. (NYSE:HES - Free Report) by 28.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,180 shares of the oil and gas producer's stock after buying an additional 65,007 shares during the quarter. Korea Investment CORP owned 0.09% of Hess worth $38,597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HES. Checchi Capital Advisers LLC boosted its position in shares of Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock valued at $287,000 after purchasing an additional 72 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Hess by 1.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock worth $528,000 after buying an additional 73 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in Hess by 5.3% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer's stock worth $224,000 after buying an additional 85 shares during the last quarter. Howard Capital Management Inc. increased its holdings in shares of Hess by 5.2% in the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock valued at $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Hess by 18.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer's stock valued at $84,000 after acquiring an additional 96 shares during the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.76% of the company's stock.

Hess Stock Up 1.0 %

Shares of Hess stock traded up $1.59 on Tuesday, hitting $161.32. 1,566,477 shares of the company traded hands, compared to its average volume of 1,859,628. 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 Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a 50-day moving average price of $148.21 and a 200 day moving average price of $142.46. The company has a market cap of $49.73 billion, a PE ratio of 17.92 and a beta of 1.21.

Hess (NYSE:HES - Get Free Report) last issued 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 return on equity of 26.32% and a net margin of 21.27%. Sell-side analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 1.24%. The ex-dividend date of this dividend was Monday, March 17th. Hess's dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

HES has been the topic of a number of recent analyst reports. Pickering Energy Partners raised Hess to a "hold" rating in a research report on Friday, January 3rd. StockNews.com assumed coverage on Hess in a report on Wednesday, March 26th. They set a "hold" rating on the stock. UBS Group upped their price objective on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $170.60.

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.