Trans Canada Capital Inc. Takes $891,000 Position in Hess Co. (NYSE:HES)

Trans Canada Capital Inc. purchased a new position in shares of Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,700 shares of the oil and gas producer's stock, valued at approximately $891,000. Hess accounts for approximately 0.1% of Trans Canada Capital Inc.'s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HES. Townsquare Capital LLC purchased a new stake in Hess in the 3rd quarter valued at approximately $298,000. Glenmede Trust Co. NA boosted its position in shares of Hess by 37.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer's stock worth $336,000 after purchasing an additional 680 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Hess during the 3rd quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Hess in the 3rd quarter valued at about $1,425,000. Finally, Holocene Advisors LP acquired a new stake in shares of Hess in the third quarter valued at about $75,126,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.76% of the company's stock.

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Hess Trading Down 9.8 %

Shares of HES stock traded down $14.49 during mid-day trading on Friday, hitting $133.89. 3,471,903 shares of the company's stock were exchanged, compared to its average volume of 1,877,171. The stock has a 50-day simple moving average of $148.58 and a two-hundred day simple moving average of $142.62. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The stock 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 quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

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, beating 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%. Equities analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

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

Analysts Set New Price Targets

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

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.