Raymond James Financial Inc. Invests $31.23 Million in Hess Co. (NYSE:HES)

Raymond James Financial Inc. purchased a new position in Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 234,764 shares of the oil and gas producer's stock, valued at approximately $31,225,000. Raymond James Financial Inc. owned 0.08% of Hess as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HES. Janney Montgomery Scott LLC raised its position in shares of Hess by 134.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,143 shares of the oil and gas producer's stock valued at $834,000 after purchasing an additional 3,524 shares in the last quarter. Assetmark Inc. raised its position in shares of Hess by 10,367.3% during the 3rd quarter. Assetmark Inc. now owns 16,643 shares of the oil and gas producer's stock valued at $2,260,000 after acquiring an additional 16,484 shares in the last quarter. Covestor Ltd increased its position in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock worth $36,000 after buying an additional 98 shares during the period. Venturi Wealth Management LLC increased its position in Hess by 324.2% in the third quarter. Venturi Wealth Management LLC now owns 700 shares of the oil and gas producer's stock worth $95,000 after buying an additional 535 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Hess in the third quarter worth $496,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Trading Down 0.3 %

Shares of HES stock opened at $143.65 on Friday. The firm has a market capitalization of $44.29 billion, a P/E ratio of 15.96 and a beta of 1.21. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock's fifty day simple moving average is $144.94 and its 200 day simple moving average is $140.12. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

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Hess (NYSE:HES - Get Free Report) last announced its earnings results 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 return on equity of 26.32% and a net margin of 21.27%. As a group, sell-side analysts predict that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, March 17th. Hess's dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HES. Pickering Energy Partners raised Hess to a "hold" rating in a research note on Friday, January 3rd. UBS Group raised their price target on Hess from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. StockNews.com started coverage on Hess in a report on Monday. They set a "hold" rating on the stock. Citigroup increased their price objective on Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised Hess from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.60.

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.

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