Hess Co. (NYSE:HES) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lessened its holdings in Hess Co. (NYSE:HES - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,405 shares of the oil and gas producer's stock after selling 3,099 shares during the quarter. Wolverine Asset Management LLC's holdings in Hess were worth $2,315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new stake in shares of Hess in the fourth quarter worth $3,117,000. Manning & Napier Advisors LLC purchased a new stake in Hess in the fourth quarter valued at $2,274,000. Czech National Bank grew its position 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 worth $7,971,000 after purchasing an additional 3,625 shares during the period. CIBC Asset Management Inc raised its stake in shares of Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after buying an additional 1,861 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Hess by 20.8% in the 3rd 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. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Price Performance

HES traded down $0.77 on Tuesday, reaching $147.99. 784,841 shares of the company's stock were exchanged, compared to its average volume of 1,902,389. The stock has a market cap of $45.60 billion, a PE ratio of 16.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock's fifty day moving average price is $141.28 and its 200-day moving average price is $139.33.

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

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Monday, December 16th. Hess's payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HES. Citigroup lifted their price target on Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Pickering Energy Partners raised shares of Hess to a "hold" rating in a report on Friday, January 3rd. UBS Group increased their price target on shares of Hess from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. StockNews.com started coverage on shares of Hess in a report on Saturday. They issued a "hold" rating for the company. Finally, Wells Fargo & Company upgraded Hess from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.60.

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.