Perigon Wealth Management LLC Increases Stake in Hess Co. (NYSE:HES)

Perigon Wealth Management LLC increased its position in shares of Hess Co. (NYSE:HES - Free Report) by 158.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,659 shares of the oil and gas producer's stock after purchasing an additional 4,701 shares during the period. Perigon Wealth Management LLC's holdings in Hess were worth $1,019,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HES. Pacer Advisors Inc. boosted its position in Hess by 6.6% in the 4th quarter. Pacer Advisors Inc. now owns 22,091 shares of the oil and gas producer's stock valued at $2,938,000 after buying an additional 1,374 shares during the period. Blue Trust Inc. increased its position in Hess by 44.4% during the 4th quarter. Blue Trust Inc. now owns 1,760 shares of the oil and gas producer's stock valued at $239,000 after buying an additional 541 shares in the last quarter. CX Institutional raised its position in shares of Hess by 6.4% in the 4th quarter. CX Institutional now owns 2,135 shares of the oil and gas producer's stock valued at $284,000 after purchasing an additional 128 shares during the last quarter. True North Advisors LLC purchased a new position in shares of Hess in the fourth quarter worth $216,000. Finally, Wesbanco Bank Inc. purchased a new position in shares of Hess in the fourth quarter worth about $323,000. 88.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Pickering Energy Partners upgraded Hess to a "hold" rating in a research note on Friday, January 3rd. UBS Group upped their price objective on shares of Hess from $173.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Citigroup boosted their price objective on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Susquehanna boosted their price target on Hess from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Scotiabank increased their price objective on Hess from $157.00 to $167.00 and gave the company a "sector perform" rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Hess presently has an average rating of "Moderate Buy" and a consensus target price of $170.50.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction dated 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 approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the sale, the chief executive officer now directly owns 229,465 shares in the company, valued at $33,914,927. This represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by company insiders.

Hess Trading Up 0.4 %

Shares of HES stock opened at $145.77 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. The company's 50-day moving average price is $140.93 and its 200-day moving average price is $139.43. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock has a market cap of $44.91 billion, a price-to-earnings ratio of 16.99 and a beta of 1.18.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.32. Hess had a net margin of 20.58% and a return on equity of 27.41%. As a group, equities analysts predict that Hess Co. will post 9.51 earnings per share for the current year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Monday, December 16th. Hess's dividend payout ratio (DPR) is presently 22.22%.

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.