Adams Natural Resources Fund Inc. Has $18.38 Million Stock Position in Hess Co. (NYSE:HES)

Adams Natural Resources Fund Inc. lowered its stake in shares of Hess Co. (NYSE:HES - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,189 shares of the oil and gas producer's stock after selling 2,000 shares during the quarter. Hess accounts for 2.9% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 8th biggest position. Adams Natural Resources Fund Inc.'s holdings in Hess were worth $18,381,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HES. Millstone Evans Group LLC bought a new stake in Hess during the fourth quarter worth about $33,000. Kiker Wealth Management LLC purchased a new position in shares of Hess during the 4th quarter valued at about $789,000. Teacher Retirement System of Texas lifted its position in Hess by 780.9% in the 4th quarter. Teacher Retirement System of Texas now owns 16,358 shares of the oil and gas producer's stock worth $2,176,000 after buying an additional 14,501 shares during the last quarter. Decagon Asset Management LLP purchased a new stake in Hess in the fourth quarter worth approximately $24,386,000. Finally, Birnam Oak Advisors LP bought a new position in Hess during the fourth quarter valued at approximately $17,998,000. 88.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Hess Trading Up 1.3 %

Hess stock traded up $2.10 during mid-day trading on Wednesday, reaching $160.39. 2,513,489 shares of the company traded hands, compared to its average volume of 1,764,072. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The firm has a market capitalization of $49.45 billion, a price-to-earnings ratio of 17.82 and a beta of 1.21. The firm's 50 day moving average price is $147.22 and its 200 day moving average price is $141.32.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results 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, analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, March 17th. Hess's payout ratio is presently 22.22%.

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.