Rialto Wealth Management LLC Buys Shares of 277 Hess Co. (NYSE:HES)

Rialto Wealth Management LLC purchased a new position in Hess Co. (NYSE:HES) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 277 shares of the oil and gas producer’s stock, valued at approximately $37,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after acquiring an additional 72 shares during the period. Cassaday & Co Wealth Management LLC grew its position in shares of Hess by 2.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock valued at $444,000 after purchasing an additional 78 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its holdings 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 purchasing an additional 85 shares during the period. Howard Capital Management Inc. raised its position in shares of Hess by 5.2% in the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 96 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Price Performance

Shares of NYSE:HES opened at $147.73 on Monday. The company’s fifty day moving average is $143.99 and its 200 day moving average is $139.94. 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 52 week low of $123.79 and a 52 week high of $163.98. The stock has a market cap of $45.55 billion, a PE ratio of 16.41 and a beta of 1.21.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. Research analysts anticipate that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.35%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

HES has been the topic of a number of research analyst reports. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group upped their price objective 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 lifted their target price on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Finally, StockNews.com assumed coverage on shares of Hess in a report on Monday. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $170.60.

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.