Hess Co. (NYSE:HES) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lessened its stake in shares of Hess Co. (NYSE:HES) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,007 shares of the oil and gas producer’s stock after selling 521 shares during the period. FineMark National Bank & Trust’s holdings in Hess were worth $6,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new position in shares of Hess in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new position in Hess in the 4th quarter valued at $27,000. Groupama Asset Managment boosted its stake in Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Hess during the fourth quarter worth $33,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Hess during the third quarter worth $37,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HES. StockNews.com began coverage on shares of Hess in a research report on Tuesday, March 18th. They set a “hold” rating on the stock. UBS Group upped their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup lifted their price objective on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Pickering Energy Partners upgraded Hess to a “hold” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their price target 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Trading Up 0.5 %

Shares of HES stock opened at $157.43 on Tuesday. The company has a 50-day moving average of $146.98 and a two-hundred day moving average of $141.10. The firm has a market cap of $48.53 billion, a PE ratio of 17.49 and a beta of 1.21. 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 posted its 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%. On average, analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s payout ratio is 22.22%.

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.