Slotnik Capital LLC Purchases 11,300 Shares of Hess Co. (NYSE:HES)

Slotnik Capital LLC boosted its position in shares of Hess Co. (NYSE:HES) by 7.2% in the 4th quarter, HoldingsChannel reports. The fund owned 167,700 shares of the oil and gas producer’s stock after acquiring an additional 11,300 shares during the period. Hess accounts for about 10.1% of Slotnik Capital LLC’s portfolio, making the stock its 4th biggest holding. Slotnik Capital LLC’s holdings in Hess were worth $22,306,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in shares of Hess during the 4th quarter worth about $25,000. Sierra Ocean LLC acquired a new stake in Hess during the fourth quarter worth approximately $27,000. Groupama Asset Managment lifted its position in shares of Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 4,186 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Hess in the 4th quarter valued at $33,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Hess in the 4th quarter valued at $37,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.76% of the stock is currently owned by company insiders.

Hess Stock Down 0.7 %

HES stock opened at $160.23 on Thursday. The stock has a market capitalization of $49.40 billion, a PE ratio of 17.80 and a beta of 1.21. The company has a fifty day moving average of $148.51 and a 200-day moving average of $142.58. 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 one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating analysts’ consensus estimates 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 expect that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

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

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.