DnB Asset Management AS Boosts Stake in Hess Co. (NYSE:HES)

DnB Asset Management AS boosted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,826 shares of the oil and gas producer's stock after acquiring an additional 3,031 shares during the quarter. DnB Asset Management AS's holdings in Hess were worth $7,691,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in HES. Cerity Partners LLC lifted its stake in Hess by 10.3% in the third quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer's stock worth $2,561,000 after acquiring an additional 1,764 shares during the period. Townsquare Capital LLC purchased a new position in shares of Hess in the 3rd quarter worth approximately $298,000. Glenmede Trust Co. NA raised its stake in shares of Hess by 37.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer's stock worth $336,000 after acquiring an additional 680 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Hess during the third quarter valued at approximately $1,052,000. Finally, FSA Wealth Management LLC acquired a new stake in Hess in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Performance

Shares of HES stock traded down $1.06 during trading hours on Wednesday, hitting $160.23. The company's stock had a trading volume of 1,479,017 shares, compared to its average volume of 1,858,118. The stock has a market cap of $49.40 billion, a PE ratio of 17.80 and a beta of 1.21. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a 50 day moving average of $148.21 and a 200 day moving average of $142.46. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

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Hess (NYSE:HES - Get Free Report) last posted its quarterly 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 net margin of 21.27% and a return on equity of 26.32%. On average, sell-side analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, March 17th. Hess's dividend payout ratio (DPR) is 22.22%.

Insider Activity at Hess

In other news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.76% of the stock is owned by company insiders.

Analyst Ratings Changes

HES has been the subject of several analyst reports. Pickering Energy Partners upgraded Hess to a "hold" rating in a report on Friday, January 3rd. Citigroup raised their price target on Hess from $145.00 to $163.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. StockNews.com initiated coverage on shares of Hess in a research note on Wednesday, March 26th. They issued a "hold" rating for the company. Finally, 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 research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.