Dimensional Fund Advisors LP raised its holdings in Hess Co. (NYSE:HES - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,616,574 shares of the oil and gas producer's stock after purchasing an additional 360,344 shares during the quarter. Dimensional Fund Advisors LP owned 0.85% of Hess worth $347,984,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in Hess in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Hess during the 4th quarter valued at $27,000. Millstone Evans Group LLC acquired a new stake in shares of Hess during the 4th quarter valued at $33,000. Rialto Wealth Management LLC bought a new stake in Hess during the 4th quarter worth $37,000. Finally, Zions Bancorporation N.A. increased its holdings in Hess by 225.6% in the 4th 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 in the last quarter. Institutional investors own 88.51% of the company's stock.
Insider Buying and Selling at Hess
In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.10% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on HES shares. StockNews.com started coverage on Hess in a report on Saturday, April 19th. They set a "hold" rating on the stock. UBS Group reduced their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Pickering Energy Partners raised shares of Hess to a "hold" rating in a research note on Friday, January 3rd. Susquehanna reduced their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Scotiabank cut 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Hess has an average rating of "Hold" and a consensus price target of $164.46.
Read Our Latest Stock Analysis on HES
Hess Trading Up 0.0 %
Shares of NYSE:HES traded up $0.05 during mid-day trading on Friday, hitting $132.43. The company had a trading volume of 1,097,230 shares, compared to its average volume of 1,880,652. 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 one year low of $123.79 and a one year high of $163.98. The firm has a fifty day moving average price of $143.54 and a 200 day moving average price of $141.96. The company has a market capitalization of $40.83 billion, a PE ratio of 14.71 and a beta of 0.88.
Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. As a group, research analysts forecast 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 Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.50 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 1.51%. Hess's payout ratio is currently 22.22%.
About Hess
(
Free Report)
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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