National Bank of Canada FI Sells 187,521 Shares of Hess Co. (NYSE:HES)

National Bank of Canada FI trimmed its holdings in Hess Co. (NYSE:HES) by 36.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,816 shares of the oil and gas producer’s stock after selling 187,521 shares during the quarter. National Bank of Canada FI’s holdings in Hess were worth $42,938,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. J.Safra Asset Management Corp bought a new position in shares of Hess during the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new stake in Hess in the 4th quarter worth $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 valued at $31,000 after purchasing an additional 4,186 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Hess in the fourth quarter worth about $33,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Hess in the fourth quarter worth about $37,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Performance

Hess stock opened at $160.23 on Thursday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company’s 50-day moving average is $148.51 and its 200 day moving average is $142.58. The firm has a market capitalization of $49.40 billion, a P/E ratio of 17.80 and a beta of 1.21. 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 (NYSE:HES) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, March 17th. Hess’s payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.76% of the stock is currently owned by 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.