Hess Co. (NYSE:HES) Short Interest Update

Hess Co. (NYSE:HES) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 5,730,000 shares, an increase of 17.4% from the November 15th total of 4,880,000 shares. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is currently 3.7 days. Approximately 2.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

HES has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of Hess in a report on Thursday. They issued a “hold” rating for the company. BMO Capital Markets upped their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Mizuho lowered their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Susquehanna lifted their price objective on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Scotiabank boosted their target price on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Five equities research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.50.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the sale, the chief executive officer now owns 223,147 shares in the company, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,370 shares of company stock valued at $45,856,309 in the last ninety days. Corporate insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HES. Groupama Asset Managment increased its holdings in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 4,186 shares during the last quarter. Covestor Ltd raised its stake in Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 98 shares during the period. FSA Wealth Management LLC acquired a new position in Hess in the third quarter valued at approximately $37,000. Eastern Bank bought a new stake in shares of Hess in the 3rd quarter worth approximately $48,000. Finally, LRI Investments LLC increased its position in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 217 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Down 2.6 %

Shares of HES traded down $3.59 during mid-day trading on Monday, reaching $136.11. 495,580 shares of the stock traded hands, compared to its average volume of 2,053,827. The stock has a fifty day simple moving average of $141.65 and a 200 day simple moving average of $141.35. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The firm has a market cap of $41.94 billion, a price-to-earnings ratio of 16.34 and a beta of 1.17.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business posted $1.64 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Hess will post 9.74 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, December 16th. Hess’s dividend payout ratio (DPR) is currently 23.31%.

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.