Hess Co. (NYSE:HES) Stock Position Cut by ClearAlpha Technologies LP

ClearAlpha Technologies LP trimmed its position in shares of Hess Co. (NYSE:HES) by 16.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,348 shares of the oil and gas producer’s stock after selling 10,367 shares during the quarter. Hess accounts for approximately 4.8% of ClearAlpha Technologies LP’s holdings, making the stock its 7th largest position. ClearAlpha Technologies LP’s holdings in Hess were worth $6,963,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HES. J.Safra Asset Management Corp bought a new stake in shares of Hess during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new stake in shares of Hess in the 4th quarter worth $27,000. Millstone Evans Group LLC purchased a new stake in Hess in the fourth quarter worth about $33,000. Rialto Wealth Management LLC purchased a new position in Hess during the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. increased its stake in shares of Hess by 225.6% in the fourth 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 in the last quarter. Institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HES shares. UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. StockNews.com assumed coverage on Hess in a research note on Saturday. They issued a “hold” rating for the company. Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, Scotiabank decreased their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hess has an average rating of “Hold” and a consensus target price of $166.26.

Hess Trading Up 2.0 %

Shares of HES opened at $130.56 on Monday. The firm has a market capitalization of $40.25 billion, a price-to-earnings ratio of 14.51 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a 50-day moving average of $145.14 and a 200 day moving average of $142.31.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) 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%. On average, research analysts expect that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 175,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.10% of the stock is owned by company insiders.

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.