Hess Co. (NYSE:HES) Sees Large Growth in Short Interest

by · The Cerbat Gem

Hess Co. (NYSE:HES – Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 7,540,000 shares, an increase of 25.9% from the March 15th total of 5,990,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 2,120,000 shares, the short-interest ratio is currently 3.6 days.

Hess Stock Performance

HES traded up $2.61 during midday trading on Friday, hitting $130.56. 1,091,694 shares of the company traded hands, compared to its average volume of 1,892,303. The company’s 50-day moving average is $145.14 and its 200 day moving average is $142.30. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $40.25 billion, a PE ratio of 14.51 and a beta of 0.88. Hess has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES – Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. On average, research analysts expect that Hess will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. Hess’s dividend payout ratio (DPR) is 22.22%.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of the stock in a transaction dated 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 directly owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. This represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hess

Institutional investors and hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its stake in shares of Hess by 3.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after buying an additional 72 shares during the period. Avantax Advisory Services Inc. raised its stake in Hess by 1.9% during 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 period. Moss Adams Wealth Advisors LLC lifted its holdings in Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 85 shares in the last quarter. Howard Capital Management Inc. lifted its holdings in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after purchasing an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of 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 period. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on HES. StockNews.com assumed coverage on Hess in a research note on Saturday. They issued a “hold” rating on the stock. Scotiabank dropped their target price on Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, UBS Group lowered their price target on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $166.26.

Check Out Our Latest Research Report on Hess

About Hess

(Get Free Report)

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.

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