GABELLI & Co INVESTMENT ADVISERS INC. Reduces Holdings in Hess Co. (NYSE:HES)

GABELLI & Co INVESTMENT ADVISERS INC. lessened its position in shares of Hess Co. (NYSE:HES - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,005 shares of the oil and gas producer's stock after selling 23,521 shares during the period. Hess accounts for 5.5% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.08% of Hess worth $31,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in Hess in the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Hess in the 4th quarter valued at about $27,000. Millstone Evans Group LLC bought a new stake in shares of Hess during the 4th quarter valued at about $33,000. Rialto Wealth Management LLC purchased a new position in shares of Hess during the fourth quarter worth about $37,000. Finally, Zions Bancorporation N.A. increased its position in shares of Hess by 225.6% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 88.51% of the company's stock.

Insider Activity at Hess

In other 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 value of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly 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 accessible through the SEC website. 9.10% of the stock is owned by corporate insiders.

Hess Trading Up 2.0 %

HES stock traded up $2.61 during midday trading on Friday, hitting $130.56. The company had a trading volume of 1,091,694 shares, compared to its average volume of 1,892,303. 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 52 week low of $123.79 and a 52 week high of $163.98. The stock has a market cap of $40.25 billion, a price-to-earnings ratio of 14.51 and a beta of 0.88. The stock's 50 day moving average price is $145.14 and its 200 day moving average price is $142.30.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (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%. As a group, equities research analysts expect 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 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 1.53%. Hess's dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

HES has been the subject of a number of research reports. Pickering Energy Partners raised shares of Hess to a "hold" rating in a research note on Friday, January 3rd. StockNews.com assumed coverage on shares of Hess in a research report on Saturday. They issued a "hold" rating for the company. Scotiabank dropped their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Finally, 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 report on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Hess presently has a consensus rating of "Hold" and an average price target of $166.26.

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.