CIBC Asset Management Inc Has $5.73 Million Stake in Hess Co. (NYSE:HES)

CIBC Asset Management Inc increased its stake in shares of Hess Co. (NYSE:HES) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,085 shares of the oil and gas producer’s stock after acquiring an additional 1,861 shares during the period. CIBC Asset Management Inc’s holdings in Hess were worth $5,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sierra Ocean LLC acquired a new stake in shares of Hess during the fourth quarter worth $27,000. Strategic Financial Concepts LLC acquired a new stake in shares of Hess during the fourth quarter worth $3,117,000. Principal Securities Inc. increased its stake in Hess by 276.0% in the 4th quarter. Principal Securities Inc. now owns 722 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 530 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Hess in the 4th quarter valued at $72,000. Finally, Valeo Financial Advisors LLC acquired a new stake in Hess in the 4th quarter valued at $207,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Performance

Shares of HES stock opened at $149.21 on Thursday. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 16.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The company has a 50-day simple moving average of $140.53 and a 200 day simple moving average of $138.85. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last announced 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%. On average, sell-side analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business 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 1.34%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HES. Citigroup lifted 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. UBS Group lifted their price target on shares of Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company upgraded shares of 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 note on Monday, December 9th. Pickering Energy Partners upgraded 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 note on Friday, February 14th. 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, the stock 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 92,894 shares of Hess stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. The trade was a 28.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.76% of the stock is currently owned by insiders.

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.