Hess Co. (NYSE:HES) is Kornitzer Capital Management Inc. KS’s 5th Largest Position

Kornitzer Capital Management Inc. KS decreased its position in Hess Co. (NYSE:HES) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 608,249 shares of the oil and gas producer’s stock after selling 20,303 shares during the period. Hess comprises 1.6% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 5th largest holding. Kornitzer Capital Management Inc. KS owned 0.20% of Hess worth $80,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in Hess by 215.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,205 shares of the oil and gas producer’s stock valued at $293,000 after acquiring an additional 1,505 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Hess in the fourth quarter worth $764,000. CIBC Asset Management Inc raised its holdings in shares of Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after buying an additional 1,861 shares during the period. Sierra Ocean LLC purchased a new stake in Hess during the 4th quarter worth $27,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Hess in the fourth quarter worth about $3,117,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Up 0.5 %

HES stock opened at $146.65 on Tuesday. 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 Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a 50 day moving average of $140.34 and a two-hundred day moving average of $138.74. The company has a market cap of $45.18 billion, a price-to-earnings ratio of 16.29 and a beta of 1.17.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Hess Co. will post 7.69 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.36%. Hess’s dividend payout ratio (DPR) is currently 22.22%.

Insider Buying and Selling

In related news, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the transaction, the chief executive officer now owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. The trade was a 36.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group increased their price target 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. 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 report on Friday, December 6th. StockNews.com assumed coverage on Hess in a research report on Friday. They issued a “hold” rating on the stock. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.60.

Hess 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.