Bessemer Group Inc. Buys 760 Shares of Hess Co. (NYSE:HES)

Bessemer Group Inc. increased its holdings in shares of Hess Co. (NYSE:HES) by 17.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,177 shares of the oil and gas producer’s stock after buying an additional 760 shares during the period. Bessemer Group Inc.’s holdings in Hess were worth $688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new stake in Hess in the fourth quarter valued at $25,000. Sierra Ocean LLC bought a new position in shares of Hess during the fourth quarter worth about $27,000. Millstone Evans Group LLC acquired a new position in shares of Hess in the fourth quarter worth approximately $33,000. Rialto Wealth Management LLC bought a new stake in Hess in the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. raised its holdings 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 worth $39,000 after purchasing an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Down 0.5 %

Shares of NYSE:HES opened at $127.26 on Wednesday. The stock has a market cap of $39.23 billion, a price-to-earnings ratio of 14.14 and a beta of 0.88. The business’s 50 day moving average is $146.08 and its 200 day moving average is $142.48. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. 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 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%. On average, sell-side analysts forecast that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. Hess’s dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

HES has been the topic of several recent analyst reports. Scotiabank dropped their target price on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. UBS Group raised their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. StockNews.com began coverage on Hess in a report on Friday, April 11th. They set a “hold” rating on the stock. Finally, Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.56.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of the business’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 transaction, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.76% 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.