Hess Sees Unusually Large Options Volume (NYSE:HES)

Hess Co. (NYSE:HES) was the recipient of unusually large options trading on Thursday. Stock investors purchased 30,283 put options on the company. This is an increase of 1,436% compared to the average volume of 1,972 put options.

Hess Price Performance

HES stock opened at $159.10 on Friday. The firm has a market cap of $49.05 billion, a P/E ratio of 17.68 and a beta of 1.21. 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 has a 1 year low of $123.79 and a 1 year high of $163.98. The stock has a 50-day simple moving average of $147.64 and a 200-day simple moving average of $141.58.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. On average, equities analysts predict that Hess will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hess

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HES. Thrivent Financial for Lutherans grew its position in shares of Hess by 19.1% during the third quarter. Thrivent Financial for Lutherans now owns 16,369 shares of the oil and gas producer’s stock worth $2,224,000 after buying an additional 2,630 shares in the last quarter. Cerity Partners LLC boosted its stake in Hess by 10.3% during the 3rd quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer’s stock valued at $2,561,000 after acquiring an additional 1,764 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Hess by 12.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 33,878 shares of the oil and gas producer’s stock worth $4,601,000 after acquiring an additional 3,640 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Hess in the 3rd quarter worth about $114,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Hess by 1.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 397,926 shares of the oil and gas producer’s stock valued at $54,038,000 after purchasing an additional 4,287 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.