Hess Co. (NYSE:HES) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in Hess Co. (NYSE:HES - Free Report) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,336 shares of the oil and gas producer's stock after acquiring an additional 9,364 shares during the period. Pictet Asset Management Holding SA's holdings in Hess were worth $14,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HES. Townsquare Capital LLC acquired a new stake in Hess during the 3rd quarter worth about $298,000. Glenmede Trust Co. NA grew its holdings in Hess by 37.9% during the third quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer's stock worth $336,000 after acquiring an additional 680 shares during the period. Holocene Advisors LP purchased a new position in Hess during the third quarter valued at approximately $75,126,000. Hilltop Holdings Inc. acquired a new position in Hess in the third quarter valued at approximately $294,000. Finally, HGC Investment Management Inc. boosted its position in Hess by 148.9% in the 3rd quarter. HGC Investment Management Inc. now owns 44,800 shares of the oil and gas producer's stock worth $6,084,000 after purchasing an additional 26,800 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.76% of the company's stock.

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Hess Price Performance

Shares of NYSE:HES traded down $14.49 during trading on Friday, reaching $133.89. The stock had a trading volume of 3,995,195 shares, compared to its average volume of 1,877,210. The business has a fifty day moving average price of $148.58 and a 200-day moving average price of $142.62. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market cap of $41.28 billion, a PE ratio of 14.88 and a beta of 0.88.

Hess (NYSE:HES - Get Free Report) last released its 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 21.27% and a return on equity of 26.32%. On average, equities analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal 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 1.49%. The ex-dividend date of this dividend was Monday, March 17th. Hess's dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price 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 upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Pickering Energy Partners upgraded Hess to a "hold" rating in a research report on Friday, January 3rd. StockNews.com started coverage on Hess in a report on Thursday. They issued a "hold" rating for the company. Finally, UBS Group raised their price objective on Hess from $185.00 to $186.00 and gave the company 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 data from MarketBeat, the company currently has a consensus 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.