Hess Co. (NYSE:HES) Shares Sold by Boussard & Gavaudan Investment Management LLP

Boussard & Gavaudan Investment Management LLP reduced its position in shares of Hess Co. (NYSE:HES - Free Report) by 18.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 269,934 shares of the oil and gas producer's stock after selling 60,176 shares during the period. Hess comprises about 2.9% of Boussard & Gavaudan Investment Management LLP's investment portfolio, making the stock its 10th biggest position. Boussard & Gavaudan Investment Management LLP owned 0.09% of Hess worth $35,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Hess during the 4th quarter worth $3,117,000. Manning & Napier Advisors LLC acquired a new position in shares of Hess during the fourth quarter valued at $2,274,000. Czech National Bank boosted its holdings in Hess by 6.4% in the fourth quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer's stock valued at $7,971,000 after acquiring an additional 3,625 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Hess by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after acquiring an additional 82,703 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Hess by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock worth $5,731,000 after purchasing an additional 1,861 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the sale, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.76% of the company's stock.

Hess Stock Up 0.4 %

Shares of HES stock traded up $0.57 during trading hours on Tuesday, hitting $160.30. 648,809 shares of the company were exchanged, compared to its average volume of 1,855,636. The business has a 50 day moving average of $147.96 and a two-hundred day moving average of $142.23. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The company has a market capitalization of $49.42 billion, a PE ratio of 17.85 and a beta of 1.21. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES - Get Free Report) last released its 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%. Analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 1.25%. Hess's payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HES. UBS Group raised their target price on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Pickering Energy Partners raised shares of Hess to a "hold" rating in a research note on Friday, January 3rd. StockNews.com assumed coverage on shares of Hess in a report on Wednesday, March 26th. They set a "hold" rating for the company. Citigroup increased their price target on Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised Hess from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $170.60.

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.