Baird Financial Group Inc. Purchases 953 Shares of Hess Co. (NYSE:HES)

Baird Financial Group Inc. grew its position in Hess Co. (NYSE:HESGet Rating) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,434 shares of the oil and gas producer’s stock after buying an additional 953 shares during the period. Baird Financial Group Inc.’s holdings in Hess were worth $1,211,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Hess by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after buying an additional 667,979 shares in the last quarter. BlackRock Inc. boosted its stake in Hess by 14.6% in the 1st quarter. BlackRock Inc. now owns 26,172,982 shares of the oil and gas producer’s stock worth $2,801,554,000 after purchasing an additional 3,340,817 shares in the last quarter. State Street Corp boosted its stake in Hess by 2.5% in the 1st quarter. State Street Corp now owns 19,149,066 shares of the oil and gas producer’s stock worth $2,049,716,000 after purchasing an additional 469,433 shares in the last quarter. Bank of America Corp DE boosted its stake in Hess by 99.1% in the 1st quarter. Bank of America Corp DE now owns 5,363,237 shares of the oil and gas producer’s stock worth $574,080,000 after purchasing an additional 2,669,913 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Hess by 5.7% in the 1st quarter. Fisher Asset Management LLC now owns 4,201,135 shares of the oil and gas producer’s stock worth $449,690,000 after purchasing an additional 227,588 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Andrew P. Slentz sold 37,419 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $148.21, for a total value of $5,545,869.99. Following the completion of the sale, the senior vice president now owns 29,327 shares of the company’s stock, valued at approximately $4,346,554.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Geurt G. Schoonman sold 12,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $123.73, for a total value of $1,484,760.00. Following the completion of the sale, the senior vice president now owns 26,391 shares of the company’s stock, valued at approximately $3,265,358.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Andrew P. Slentz sold 37,419 shares of Hess stock in a transaction on Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the sale, the senior vice president now directly owns 29,327 shares in the company, valued at approximately $4,346,554.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,270 shares of company stock valued at $14,755,556. 9.93% of the stock is owned by corporate insiders.

Hess Price Performance

NYSE:HES opened at $143.99 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.66. The firm has a market cap of $44.39 billion, a price-to-earnings ratio of 23.96 and a beta of 1.60. The company has a 50 day moving average price of $129.83 and a 200-day moving average price of $118.29. Hess Co. has a 1-year low of $68.32 and a 1-year high of $149.83.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, September 16th. Hess’s payout ratio is presently 24.96%.

Analysts Set New Price Targets

A number of research firms recently commented on HES. Morgan Stanley lowered their target price on shares of Hess from $134.00 to $123.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Mizuho lifted their price objective on shares of Hess from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Hess from $149.00 to $146.00 in a research note on Tuesday, October 4th. Barclays decreased their price objective on shares of Hess from $146.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Finally, StockNews.com assumed coverage on shares of Hess in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.46.

About Hess

(Get Rating)

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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Institutional Ownership by Quarter for Hess (NYSE:HES)

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