Geneos Wealth Management Inc. Has $5.33 Million Holdings in Hess Corporation (NYSE:HES)

Geneos Wealth Management Inc. raised its position in shares of Hess Corporation (NYSE:HES) by 101.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 33,373 shares of the oil and gas producer’s stock after purchasing an additional 16,785 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Hess were worth $5,331,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in Hess during the first quarter worth $25,000. Global X Japan Co. Ltd. boosted its stake in Hess by 106.2% during the first quarter. Global X Japan Co. Ltd. now owns 200 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. Wayfinding Financial LLC bought a new position in Hess during the first quarter worth $33,000. IMA Advisory Services Inc. bought a new position in Hess during the first quarter worth $36,000. Finally, Raiffeisen Bank International AG bought a new position in Hess during the fourth quarter worth $39,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

HES has been the topic of several research analyst reports. Susquehanna cut their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Mizuho reduced their price target on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. UBS Group lifted their price target on shares of Hess from $163.00 to $173.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Scotiabank lifted their price target on shares of Hess from $146.58 to $155.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company reduced their price target on shares of Hess from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, June 26th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $162.78.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 250,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $136.01, for a total transaction of $34,002,500.00. Following the transaction, the chief executive officer directly owned 1,734,679 shares in the company, valued at approximately $235,933,690.79. This trade represents a 12.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.10% of the company’s stock.

Hess Price Performance

Shares of NYSE:HES opened at $160.31 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $143.48 and its two-hundred day simple moving average is $142.56. Hess Corporation has a 1-year low of $123.79 and a 1-year high of $161.69. The stock has a market cap of $49.59 billion, a PE ratio of 22.17 and a beta of 0.62.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 17.65% and a return on equity of 21.78%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.16 earnings per share. Hess’s revenue was down 12.1% on a year-over-year basis. As a group, analysts forecast that Hess Corporation will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, June 16th. Hess’s dividend payout ratio (DPR) is presently 27.66%.

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.