NEOS Investment Management LLC Increases Stock Holdings in Hess Co. (NYSE:HES)

NEOS Investment Management LLC boosted its position in shares of Hess Co. (NYSE:HES) by 30.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,853 shares of the oil and gas producer’s stock after acquiring an additional 3,732 shares during the period. NEOS Investment Management LLC’s holdings in Hess were worth $2,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. J.Safra Asset Management Corp bought a new position in Hess in the 4th quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in shares of Hess in the fourth quarter worth $27,000. Groupama Asset Managment boosted its stake in 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 buying an additional 4,186 shares during the period. Millstone Evans Group LLC purchased a new position in Hess during the fourth quarter worth about $33,000. Finally, FSA Wealth Management LLC bought a new position in Hess in the 3rd quarter worth about $37,000. Institutional investors own 88.51% of the company’s stock.

Hess Price Performance

HES opened at $158.48 on Friday. 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 stock’s 50 day simple moving average is $147.78 and its 200 day simple moving average is $141.79. The firm has a market cap of $48.86 billion, a price-to-earnings ratio of 17.61 and a beta of 1.21.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 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%. As a group, analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio (DPR) is 22.22%.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HES has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. UBS Group lifted their target price on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup increased their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Finally, StockNews.com assumed coverage on Hess in a research report on Wednesday. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has an average rating of “Moderate Buy” and an average target price 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.