Hess Co. (NYSE:HES) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Hess Co. (NYSE:HES) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,058 shares of the oil and gas producer’s stock after acquiring an additional 498 shares during the period. Parallel Advisors LLC’s holdings in Hess were worth $407,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HES. HBK Investments L P increased its holdings in shares of Hess by 16.7% in the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock valued at $966,600,000 after purchasing an additional 1,017,720 shares during the period. Geode Capital Management LLC increased its stake in Hess by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock valued at $884,709,000 after buying an additional 74,085 shares during the period. Wellington Management Group LLP increased its stake in Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after buying an additional 1,391,311 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after acquiring an additional 785,270 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Hess by 46.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock worth $389,787,000 after acquiring an additional 927,093 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HES shares. UBS Group boosted their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company raised 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 report on Monday, December 9th. Citigroup upped their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, StockNews.com assumed coverage on shares of Hess in a research note on Tuesday. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.60.

Hess Stock Down 0.5 %

HES stock opened at $156.59 on Friday. The company’s 50 day simple moving average is $146.73 and its 200-day simple moving average is $140.78. The firm has a market capitalization of $48.28 billion, a PE ratio of 17.40 and a beta of 1.21. Hess Co. has a 12 month low of $123.79 and a 12 month 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 earnings results 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 return on equity of 26.32% and a net margin of 21.27%. Equities analysts expect that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. 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.