Guggenheim Capital LLC Reduces Stock Holdings in Hess Co. (NYSE:HES)

Guggenheim Capital LLC reduced its position in Hess Co. (NYSE:HES - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,712 shares of the oil and gas producer's stock after selling 14,256 shares during the quarter. Guggenheim Capital LLC's holdings in Hess were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Hess Trading Up 1.9 %

NYSE:HES traded up $2.41 during mid-day trading on Thursday, hitting $132.44. 1,223,464 shares of the stock traded hands, compared to its average volume of 1,887,819. 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 $40.83 billion, a price-to-earnings ratio of 14.72 and a beta of 0.88. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98. The firm's 50 day moving average is $144.13 and its two-hundred day moving average is $142.05.

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

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. Hess's dividend payout ratio is currently 22.22%.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank reduced their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Susquehanna lowered their target price on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday. StockNews.com began coverage on shares of Hess in a research report on Saturday, April 19th. They issued a "hold" rating on the stock. Finally, Pickering Energy Partners upgraded shares of Hess to a "hold" rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hess presently has a consensus rating of "Hold" and a consensus price target of $164.46.

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.