FineMark National Bank & Trust Decreases Position in Hess Co. (NYSE:HES)

FineMark National Bank & Trust lowered its stake in shares of Hess Co. (NYSE:HES) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,007 shares of the oil and gas producer’s stock after selling 521 shares during the quarter. FineMark National Bank & Trust’s holdings in Hess were worth $6,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. J.Safra Asset Management Corp acquired a new position in Hess during the 4th quarter worth $25,000. Sierra Ocean LLC purchased a new position in shares of Hess in the 4th quarter valued at about $27,000. Groupama Asset Managment grew its position 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 worth $31,000 after buying an additional 4,186 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Hess during the fourth quarter worth approximately $33,000. Finally, FSA Wealth Management LLC acquired a new stake in Hess in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.5 %

HES opened at $157.43 on Tuesday. 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 Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The business’s 50 day moving average is $146.98 and its two-hundred day moving average is $141.10. The firm has a market cap of $48.53 billion, a price-to-earnings ratio of 17.49 and a beta of 1.21.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HES shares. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. Citigroup boosted their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com initiated coverage on Hess in a research note on Tuesday, March 18th. They issued a “hold” rating on the stock. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Finally, UBS Group raised their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.60.

Hess 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.