Canada Pension Plan Investment Board Acquires 76,719 Shares of Hess Co. (NYSE:HES)

Canada Pension Plan Investment Board increased its holdings in Hess Co. (NYSE:HES) by 41.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,106 shares of the oil and gas producer’s stock after purchasing an additional 76,719 shares during the period. Canada Pension Plan Investment Board’s holdings in Hess were worth $34,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HES. Checchi Capital Advisers LLC grew its position in shares of Hess by 3.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after purchasing an additional 72 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Hess by 1.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after acquiring an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its holdings in shares of Hess by 5.3% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 85 shares in the last quarter. Howard Capital Management Inc. boosted its position in shares of Hess by 5.2% during the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after acquiring an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Hess by 18.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 2.0 %

NYSE HES opened at $130.56 on Friday. 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’s 50-day simple moving average is $145.14 and its two-hundred day simple moving average is $142.30. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The company has a market capitalization of $40.25 billion, a price-to-earnings ratio of 14.51 and a beta of 0.88.

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 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%. Equities analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Monday, March 17th. Hess’s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

HES has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Hess in a research note on Saturday. They issued a “hold” rating for the company. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group dropped their target price on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Scotiabank decreased their price target on Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $166.26.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.10% of the stock is currently owned by company 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.