Hess Co. (NYSE:HES) Short Interest Update

Hess Co. (NYSE:HES) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 5,180,000 shares, a decrease of 9.6% from the November 30th total of 5,730,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 3.2 days.

Hess Price Performance

Shares of HES traded up $2.30 during mid-day trading on Wednesday, hitting $133.01. 1,478,207 shares of the company traded hands, compared to its average volume of 2,049,343. The stock has a market capitalization of $40.98 billion, a price-to-earnings ratio of 15.50 and a beta of 1.17. Hess has a one year low of $123.79 and a one year high of $163.98. The business has a 50-day moving average of $139.68 and a 200 day moving average of $139.89. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75.

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 the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Hess will post 9.74 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio is currently 23.31%.

Insider Buying and Selling

In related news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $147.08, for a total value of $18,385,000.00. Following the completion of the sale, the chief executive officer now owns 217,894 shares of the company’s stock, valued at $32,047,849.52. The trade was a 36.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,370 shares of company stock valued at $45,856,309. Company insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Hess

Several institutional investors have recently bought and sold shares of the stock. Groupama Asset Managment boosted its stake in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares during the period. Covestor Ltd boosted its position in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares during the period. FSA Wealth Management LLC bought a new stake in Hess in the 3rd quarter worth $37,000. Eastern Bank purchased a new position in shares of Hess in the third quarter valued at about $48,000. Finally, LRI Investments LLC raised its stake in shares of Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 217 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HES shares. UBS Group raised their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Mizuho dropped their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Susquehanna lifted their price objective on shares of Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wolfe Research upgraded shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.50.

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.