Raymond James Financial Services Advisors Inc. lifted its position in Hess Corp. (NYSE:HES) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,075 shares of the oil and gas producer’s stock after buying an additional 862 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Hess were worth $2,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Trust Advisors LP increased its holdings in Hess by 119.7% during the 3rd quarter. First Trust Advisors LP now owns 8,647 shares of the oil and gas producer’s stock valued at $619,000 after acquiring an additional 4,712 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Hess by 56.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 56,924 shares of the oil and gas producer’s stock valued at $4,075,000 after acquiring an additional 20,567 shares in the last quarter. ING Groep NV increased its holdings in Hess by 61.0% during the 3rd quarter. ING Groep NV now owns 5,858 shares of the oil and gas producer’s stock valued at $419,000 after acquiring an additional 2,220 shares in the last quarter. SG Americas Securities LLC increased its holdings in Hess by 214.6% during the 3rd quarter. SG Americas Securities LLC now owns 85,125 shares of the oil and gas producer’s stock valued at $6,093,000 after acquiring an additional 58,070 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Hess by 2.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 957,706 shares of the oil and gas producer’s stock valued at $68,553,000 after acquiring an additional 24,522 shares in the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

HES opened at $57.96 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 2.02. Hess Corp. has a 1 year low of $35.59 and a 1 year high of $74.81. The company has a market capitalization of $17.34 billion, a P/E ratio of -78.32 and a beta of 1.95.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.10. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the company earned ($1.01) earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts anticipate that Hess Corp. will post -0.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be given a $0.25 dividend. The ex-dividend date is Friday, March 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Hess’s dividend payout ratio is presently -135.14%.

In related news, COO Gregory P. Hill sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $56.73, for a total value of $282,912.51. Following the sale, the chief operating officer now directly owns 98,647 shares of the company’s stock, valued at $5,596,244.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John B. Hess sold 167,834 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $52.84, for a total transaction of $8,868,348.56. Following the completion of the sale, the chief executive officer now directly owns 1,871,958 shares in the company, valued at $98,914,260.72. The disclosure for this sale can be found here. Insiders sold 462,041 shares of company stock worth $25,173,566 over the last three months. Corporate insiders own 12.09% of the company’s stock.

Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Hess from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 target price for the company. in a report on Tuesday, January 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $57.00 target price on shares of Hess and gave the company a “sell” rating in a report on Friday, December 7th. MKM Partners raised their price target on shares of Hess to $79.00 and gave the stock a “buy” rating in a research note on Thursday, December 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $85.00 price target on shares of Hess in a research note on Tuesday, November 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Hess presently has a consensus rating of “Hold” and an average price target of $69.31.

COPYRIGHT VIOLATION WARNING: “Hess Corp. (HES) Shares Bought by Raymond James Financial Services Advisors Inc.” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://theolympiareport.com/2019/03/15/hess-corp-hes-shares-bought-by-raymond-james-financial-services-advisors-inc.html.

Hess Profile

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

Further Reading: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Hess (NYSE:HES)

Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.