183,343 Shares in Hess Co. (NYSE:HES) Acquired by Decagon Asset Management LLP

Decagon Asset Management LLP purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 183,343 shares of the oil and gas producer's stock, valued at approximately $24,386,000. Hess comprises 8.9% of Decagon Asset Management LLP's investment portfolio, making the stock its 2nd biggest holding. Decagon Asset Management LLP owned 0.06% of Hess at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HES. J.Safra Asset Management Corp purchased a new stake in shares of Hess in the fourth quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in shares of Hess in the fourth quarter worth about $27,000. Groupama Asset Managment boosted its stake in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock worth $31,000 after buying an additional 4,186 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Hess in the third quarter worth about $37,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Hess in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of Hess stock traded down $0.78 during mid-day trading on Friday, reaching $156.59. 2,696,264 shares of the stock traded hands, compared to its average volume of 1,760,029. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. 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 stock has a market capitalization of $48.28 billion, a PE ratio of 17.40 and a beta of 1.21. The business has a 50-day moving average of $146.73 and a 200 day moving average of $140.90.

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

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Hess's dividend payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com assumed coverage on Hess in a report on Tuesday, March 18th. They issued a "hold" rating for the company. Citigroup upped their price target on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Pickering Energy Partners raised Hess to a "hold" rating in a report on Friday, January 3rd. UBS Group upped their price target on Hess from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised Hess from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Hess currently has a consensus rating of "Moderate Buy" and an average target price of $170.60.

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.