Cynosure Group LLC Raises Stock Holdings in Hess Co. (NYSE:HES)

Cynosure Group LLC grew its position in Hess Co. (NYSE:HES) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,164 shares of the oil and gas producer’s stock after purchasing an additional 418 shares during the period. Cynosure Group LLC’s holdings in Hess were worth $1,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Hess in the first quarter worth about $25,000. Covestor Ltd grew its stake in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the period. Eastern Bank purchased a new stake in Hess during the third quarter worth $48,000. Finally, Coastline Trust Co acquired a new stake in Hess during the third quarter valued at $55,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Price Performance

Hess stock opened at $146.33 on Wednesday. The company has a fifty day simple moving average of $139.43 and a 200-day simple moving average of $142.28. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $45.09 billion, a price-to-earnings ratio of 17.05 and a beta of 1.15. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. On average, equities analysts anticipate that Hess Co. will post 9.72 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 23.31%.

Analyst Upgrades and Downgrades

HES has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. StockNews.com began coverage on Hess in a research report on Tuesday. They set a “hold” rating on the stock. Mizuho cut their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group decreased their target price on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Susquehanna upped their price objective on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $163.30.

Insiders Place Their Bets

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares in the company, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total value of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock valued at $45,856,309 in the last three months. 9.76% of the stock is currently owned by insiders.

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.