Erste Asset Management GmbH Invests $47.06 Million in Hess Co. (NYSE:HES)

Erste Asset Management GmbH bought a new position in shares of Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 360,000 shares of the oil and gas producer's stock, valued at approximately $47,056,000. Erste Asset Management GmbH owned approximately 0.12% of Hess at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp acquired a new stake in Hess in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in Hess in the fourth quarter valued at $27,000. Groupama Asset Managment raised its holdings in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 4,186 shares in the last quarter. Covestor Ltd raised its holdings in 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 acquiring an additional 98 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Hess in the third quarter valued at $37,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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Hess Stock Down 0.6 %

Hess stock opened at $143.79 on Thursday. The company has a 50-day simple moving average of $144.77 and a 200-day simple moving average of $140.10. The firm has a market capitalization of $44.33 billion, a P/E ratio of 15.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings results 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 net margin of 21.27% and a return on equity of 26.32%. As a group, equities analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. Hess's dividend payout ratio is presently 22.22%.

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.

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