Proficio Capital Partners LLC Purchases Shares of 114,014 Hess Co. (NYSE:HES)

Proficio Capital Partners LLC purchased a new stake in shares of Hess Co. (NYSE:HES) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 114,014 shares of the oil and gas producer’s stock, valued at approximately $15,165,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Hess in the fourth quarter worth about $3,117,000. Manning & Napier Advisors LLC bought a new stake in shares of Hess in the fourth quarter worth about $2,274,000. Czech National Bank increased its holdings in shares of Hess by 6.4% in the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock worth $7,971,000 after purchasing an additional 3,625 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Hess by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock worth $5,731,000 after purchasing an additional 1,861 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Hess by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock worth $244,483,000 after purchasing an additional 82,703 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Hess Stock Up 3.0 %

Shares of NYSE:HES opened at $148.21 on Friday. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The business has a 50 day simple moving average of $145.18 and a two-hundred day simple moving average of $140.19. The firm has a market capitalization of $45.69 billion, a PE ratio of 16.47 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 announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. On average, equities analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.35%. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

HES has been the topic of several research reports. UBS Group lifted their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $193.00 in a report on Monday, December 9th. StockNews.com began coverage on Hess in a report on Monday, March 10th. They issued a “hold” rating on the stock. Citigroup boosted their price objective on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $170.60.

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.