D.A. Davidson & CO. Makes New $764,000 Investment in Hess Co. (NYSE:HES)

D.A. Davidson & CO. acquired a new position in Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,746 shares of the oil and gas producer's stock, valued at approximately $764,000.

Other hedge funds have also modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Hess in the 4th quarter worth approximately $27,000. Groupama Asset Managment lifted its holdings in Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 4,186 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Hess in the 3rd quarter worth $37,000. Finally, LRI Investments LLC lifted its stake in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 217 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Pickering Energy Partners raised Hess to a "hold" rating in a research report on Friday, January 3rd. StockNews.com started coverage on shares of Hess in a research report on Saturday, February 22nd. They set a "hold" rating for the company. UBS Group lifted their price objective on shares of Hess from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company raised shares of 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 research report on Monday, December 9th. Finally, Citigroup lifted their price target on shares of Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.60.

Hess Stock Performance

NYSE:HES traded up $2.13 during trading hours on Friday, hitting $149.04. 2,402,219 shares of the company were exchanged, compared to its average volume of 1,939,125. 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 stock has a market capitalization of $45.92 billion, a price-to-earnings ratio of 16.56 and a beta of 1.17. The company's 50 day moving average price is $142.23 and its 200-day moving average price is $139.52.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, research analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. Hess's payout ratio is currently 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.