Massachusetts Financial Services Co. MA Raises Stock Position in Hess Co. (NYSE:HES)

Massachusetts Financial Services Co. MA raised its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,498,458 shares of the oil and gas producer's stock after acquiring an additional 179,636 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.14% of Hess worth $465,330,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in Hess during the 4th quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new stake in Hess during the 4th quarter valued at approximately $27,000. Groupama Asset Managment raised its position in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 4,186 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Hess in the fourth quarter worth $33,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Hess during the fourth quarter worth $37,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Trading Down 9.8 %

Shares of Hess stock traded down $14.49 on Friday, reaching $133.89. The company had a trading volume of 3,995,195 shares, compared to its average volume of 1,873,512. The firm's 50-day moving average price is $148.37 and its two-hundred day moving average price is $142.66. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The firm has a market cap of $41.28 billion, a price-to-earnings ratio of 14.88 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

Remove Ads

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 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, research analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, March 17th. Hess's dividend payout ratio (DPR) is currently 22.22%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 175,000 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.76% of the stock is owned by insiders.

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.