44 Wealth Management LLC Sells 1,873 Shares of Hess Co. (NYSE:HES)

44 Wealth Management LLC lessened its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,536 shares of the oil and gas producer's stock after selling 1,873 shares during the quarter. 44 Wealth Management LLC's holdings in Hess were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Hess by 58.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer's stock worth $509,675,000 after acquiring an additional 1,391,311 shares during the period. HBK Investments L P boosted its position in shares of Hess by 16.7% during the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer's stock valued at $966,600,000 after purchasing an additional 1,017,720 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Hess by 31.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer's stock worth $450,696,000 after purchasing an additional 785,270 shares during the period. Holocene Advisors LP bought a new position in Hess in the third quarter worth $75,126,000. Finally, ING Groep NV lifted its position in Hess by 267.8% during the third quarter. ING Groep NV now owns 533,264 shares of the oil and gas producer's stock valued at $72,417,000 after buying an additional 388,273 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Down 1.0 %

Shares of Hess stock traded down $1.53 on Wednesday, reaching $145.42. The company's stock had a trading volume of 1,679,293 shares, compared to its average volume of 1,925,521. The company has a market capitalization of $44.81 billion, a price-to-earnings ratio of 16.16 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The firm's fifty day simple moving average is $141.53 and its two-hundred day simple moving average is $139.42.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping 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%. Equities analysts anticipate that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.38%. Hess's dividend payout ratio (DPR) is 22.22%.

Analyst Ratings Changes

A number of analysts have recently weighed in on HES shares. Wells Fargo & Company raised shares of Hess from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. StockNews.com began coverage on shares of Hess in a report on Saturday. They issued a "hold" rating on the stock. UBS Group lifted 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. 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. Finally, Pickering Energy Partners raised Hess to a "hold" rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.