Short Interest in Hess Co. (NYSE:HES) Rises By 25.9%

Hess Co. (NYSE:HES) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,540,000 shares, a growth of 25.9% from the March 15th total of 5,990,000 shares. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HES shares. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Scotiabank lowered their target price on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a report on Friday, April 11th. StockNews.com began coverage on Hess in a research note on Saturday. They set a “hold” rating on the stock. Finally, UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Hess has an average rating of “Hold” and a consensus price target of $166.26.

Hess Stock Performance

Shares of NYSE HES traded up $2.61 during trading on Friday, reaching $130.56. 1,091,694 shares of the company traded hands, compared to its average volume of 1,892,303. The firm’s fifty day simple moving average is $145.14 and its 200 day simple moving average is $142.30. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The stock has a market cap of $40.25 billion, a P/E ratio of 14.51 and a beta of 0.88. Hess has a 12-month low of $123.79 and a 12-month high of $163.98.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Hess will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, March 17th. Hess’s payout ratio is 22.22%.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hess

Institutional investors have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC lifted its stake in Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after buying an additional 72 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock valued at $528,000 after acquiring an additional 73 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in shares of Hess by 5.3% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 85 shares during the last quarter. Howard Capital Management Inc. raised its stake in Hess by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after purchasing an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Hess by 18.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

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.