Outfitter Financial LLC Acquires 7,410 Shares of Hess Co. (NYSE:HES)

Outfitter Financial LLC increased its holdings in shares of Hess Co. (NYSE:HES) by 76.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,055 shares of the oil and gas producer’s stock after purchasing an additional 7,410 shares during the period. Hess makes up approximately 1.8% of Outfitter Financial LLC’s holdings, making the stock its 19th largest position. Outfitter Financial LLC’s holdings in Hess were worth $2,268,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HES. Sierra Ocean LLC acquired a new position in shares of Hess during the fourth quarter worth approximately $27,000. Groupama Asset Managment increased its position 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 worth $31,000 after acquiring an additional 4,186 shares during the period. Covestor Ltd raised its stake in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Hess in the 3rd quarter valued at $37,000. Finally, Eastern Bank acquired a new stake in Hess in the 3rd quarter worth $48,000. Institutional investors own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HES. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a research report on Monday, December 9th. UBS Group upped their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com initiated coverage on Hess in a report on Friday, February 14th. They set a “hold” rating on the stock. Citigroup upped their target price on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Stock Up 1.3 %

Shares of NYSE:HES opened at $151.19 on Friday. The company’s fifty day moving average is $140.87 and its 200-day moving average is $139.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The company has a market capitalization of $46.58 billion, a PE ratio of 16.80 and a beta of 1.17.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. Equities research analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio is currently 22.22%.

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.