Cibc World Markets Corp Increases Stock Position in Hess Co. (NYSE:HES)

Cibc World Markets Corp raised its position in Hess Co. (NYSE:HES) by 229.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,619 shares of the oil and gas producer’s stock after acquiring an additional 86,042 shares during the quarter. Cibc World Markets Corp’s holdings in Hess were worth $16,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Avalon Trust Co purchased a new position in Hess during the 4th quarter valued at about $63,000. one8zero8 LLC bought a new position in shares of Hess during the fourth quarter valued at approximately $665,000. Natixis Advisors LLC raised its holdings in shares of Hess by 12.9% during the fourth quarter. Natixis Advisors LLC now owns 300,631 shares of the oil and gas producer’s stock valued at $39,987,000 after acquiring an additional 34,354 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Hess by 12.1% in the fourth quarter. Picton Mahoney Asset Management now owns 185,000 shares of the oil and gas producer’s stock valued at $24,182,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Hess in the fourth quarter valued at $6,039,000. 88.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group raised their target price on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a research report on Friday, January 3rd. Citigroup lifted their price target on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, StockNews.com began coverage on Hess in a report on Tuesday. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Hess presently has an average rating of “Moderate Buy” and a consensus price target of $170.60.

Hess Price Performance

HES opened at $150.43 on Tuesday. The firm has a market cap of $46.38 billion, a PE ratio of 16.71 and a beta of 1.21. The stock has a 50-day moving average price of $145.47 and a 200-day moving average price of $140.32. 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 current ratio of 1.12 and a quick ratio of 1.13.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Sell-side analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s payout ratio is currently 22.22%.

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.