Hess Co. (NYSE:HES) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its holdings in Hess Co. (NYSE:HES - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,438,985 shares of the oil and gas producer's stock after purchasing an additional 698,866 shares during the quarter. Hess comprises 2.7% of Adage Capital Partners GP L.L.C.'s portfolio, making the stock its 5th biggest holding. Adage Capital Partners GP L.L.C. owned approximately 3.71% of Hess worth $1,521,499,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in Hess during the 3rd quarter valued at $232,000. Tidal Investments LLC raised its position in shares of Hess by 4.0% during the third quarter. Tidal Investments LLC now owns 19,830 shares of the oil and gas producer's stock valued at $2,693,000 after buying an additional 757 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of 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 buying an additional 208,996 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Hess during the third quarter worth about $23,765,000. Finally, Retirement Systems of Alabama increased its stake in Hess by 330.3% during the third quarter. Retirement Systems of Alabama now owns 262,316 shares of the oil and gas producer's stock valued at $35,623,000 after acquiring an additional 201,349 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HES. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Pickering Energy Partners raised Hess to a "hold" rating in a research report on Friday, January 3rd. Susquehanna lowered their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday. StockNews.com assumed coverage on shares of Hess in a report on Saturday. They set a "hold" rating for the company. Finally, Scotiabank decreased their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $164.46.

Insider Activity at Hess

In related news, CEO John B. Hess sold 175,000 shares of the business'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 value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.10% of the stock is currently owned by company insiders.

Hess Price Performance

Shares of Hess stock opened at $130.40 on Wednesday. The stock has a market capitalization of $40.20 billion, a price-to-earnings ratio of 14.49 and a beta of 0.88. The firm's 50-day moving average price is $144.46 and its two-hundred day moving average price is $142.13. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Hess Co. has a 1-year low of $123.79 and a 1-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 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 analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date 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 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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