Gabelli Funds LLC Decreases Holdings in Hess Co. (NYSE:HES)

Gabelli Funds LLC lowered its position in shares of Hess Co. (NYSE:HES - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 358,800 shares of the oil and gas producer's stock after selling 15,800 shares during the quarter. Gabelli Funds LLC owned 0.12% of Hess worth $47,724,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MML Investors Services LLC grew its stake in Hess by 1.5% in the third quarter. MML Investors Services LLC now owns 8,098 shares of the oil and gas producer's stock valued at $1,100,000 after purchasing an additional 121 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Hess in the third quarter valued at $454,000. Wilmington Savings Fund Society FSB acquired a new position in Hess during the third quarter worth $232,000. Tidal Investments LLC raised its position in Hess by 4.0% during the third quarter. Tidal Investments LLC now owns 19,830 shares of the oil and gas producer's stock worth $2,693,000 after acquiring an additional 757 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Hess by 20.8% in the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer's stock valued at $169,767,000 after acquiring an additional 208,996 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Hess Stock Performance

NYSE HES traded up $2.61 during trading hours on Friday, reaching $130.56. 1,091,694 shares of the company were exchanged, compared to its average volume of 1,892,303. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $40.25 billion, a P/E ratio of 14.51 and a beta of 0.88. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The business's 50 day simple moving average is $145.14 and its 200-day simple moving average is $142.30.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS 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%. On average, equities research analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. Hess's dividend payout ratio (DPR) is currently 22.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HES shares. Scotiabank dropped their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. StockNews.com started coverage on Hess in a research note on Saturday. They issued a "hold" rating on the stock. UBS Group reduced their target price on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Pickering Energy Partners upgraded Hess to a "hold" rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $166.26.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at $379,879,364.70. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is currently owned by insiders.

Hess 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.