Hess Co. (NYSE:HES) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Hess Co. (NYSE:HES - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,921 shares of the oil and gas producer's stock after buying an additional 10,738 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Hess worth $44,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HES. Vanguard Group Inc. grew its stake in shares of Hess by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer's stock worth $4,903,793,000 after purchasing an additional 294,146 shares during the period. Primecap Management Co. CA grew its position in shares of Hess by 4.4% during the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer's stock worth $1,194,619,000 after buying an additional 340,490 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Hess by 34.5% in the second quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer's stock worth $418,291,000 after purchasing an additional 726,631 shares during the period. Legal & General Group Plc lifted its stake in Hess by 6.6% in the second quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer's stock valued at $361,691,000 after buying an additional 150,945 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Hess by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer's stock valued at $265,359,000 after purchasing an additional 181,459 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on HES. StockNews.com started coverage on Hess in a research note on Sunday. They set a "hold" rating on the stock. Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Susquehanna upped their price target on Hess from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. BMO Capital Markets increased their target price on Hess from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Finally, Citigroup lowered their price target on Hess from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Hess presently has a consensus rating of "Hold" and an average target price of $163.30.

Hess Price Performance

Shares of HES traded down $0.23 during mid-day trading on Monday, hitting $141.95. 1,083,702 shares of the stock were exchanged, compared to its average volume of 1,587,250. The company has a market cap of $43.74 billion, a PE ratio of 16.54 and a beta of 1.15. The firm has a 50-day moving average of $135.65 and a two-hundred day moving average of $143.47. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.26.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating the consensus estimate of $1.88 by $0.26. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. On average, equities analysts predict that Hess Co. will post 9.76 earnings per share for the current year.

Hess Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hess's previous quarterly dividend of $0.44. Hess's dividend payout ratio is 23.31%.

Insider Buying and Selling

In related news, CEO John B. Hess sold 90,476 shares of the firm'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 transaction of $12,890,115.72. Following the transaction, the chief executive officer now owns 223,147 shares in the company, valued at $31,791,753.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.76% of the stock is owned by corporate insiders.

Hess Company 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.