Massachusetts Financial Services Co. MA Boosts Stake in Hess Co. (NYSE:HES)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Hess Co. (NYSE:HES) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,498,458 shares of the oil and gas producer’s stock after buying an additional 179,636 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.14% of Hess worth $465,330,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. J.Safra Asset Management Corp bought a new stake in shares of Hess in the fourth quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in Hess in the fourth quarter worth approximately $27,000. Millstone Evans Group LLC bought a new stake in Hess in the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC purchased a new stake in Hess during the 4th quarter valued at $37,000. Finally, Zions Bancorporation N.A. raised its stake in Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Citigroup boosted their price target on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group boosted their target price on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com began coverage on shares of Hess in a research report on Thursday. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.60.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the sale, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.76% of the stock is owned by company insiders.

Hess Stock Down 0.7 %

HES opened at $160.23 on Thursday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market cap of $49.40 billion, a price-to-earnings ratio of 17.80 and a beta of 1.21. The firm’s fifty day moving average is $148.51 and its 200 day moving average is $142.58.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. On average, sell-side analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

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.