1,622 Shares in Hess Co. (NYSE:HES) Acquired by Goldstone Financial Group LLC

Goldstone Financial Group LLC bought a new position in shares of Hess Co. (NYSE:HES) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,622 shares of the oil and gas producer’s stock, valued at approximately $259,000.

Other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp acquired a new position in shares of Hess during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new position in shares of Hess during the 4th quarter worth approximately $27,000. Millstone Evans Group LLC acquired a new position in shares of Hess during the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC acquired a new position in shares of Hess during the 4th quarter worth approximately $37,000. Finally, Zions Bancorporation N.A. boosted its stake in Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 203 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Trading Up 0.7%

NYSE HES opened at $142.15 on Friday. The company has a market cap of $43.97 billion, a price-to-earnings ratio of 15.79 and a beta of 0.62. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The business has a 50 day moving average price of $132.51 and a 200-day moving average price of $140.12. 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 (NYSE:HES) last announced its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company posted $3.16 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. As a group, equities analysts expect that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.50 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 1.41%. Hess’s dividend payout ratio is currently 27.66%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group boosted their price target on Hess from $163.00 to $173.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna reduced their price target on Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Scotiabank reduced their price target on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Mizuho reduced their price target on Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded Hess from a “sell” rating to a “hold” rating in a research note on Saturday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.16.

Insider Activity

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 650,000 shares of company stock valued at $91,845,500 in the last 90 days. Insiders own 9.10% of the company’s stock.

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.