Kentucky Retirement Systems Insurance Trust Fund Acquires 1,890 Shares of Hess Co. (NYSE:HES)

Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Hess Co. (NYSE:HES - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,073 shares of the oil and gas producer's stock after purchasing an additional 1,890 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Hess were worth $1,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Hess during the fourth quarter valued at approximately $27,000. Covestor Ltd increased its holdings in Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 98 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Hess during the third quarter valued at approximately $37,000. Eastern Bank purchased a new stake in Hess during the third quarter valued at approximately $48,000. Finally, LRI Investments LLC increased its holdings in Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer's stock valued at $51,000 after buying an additional 217 shares during the last quarter. Institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of NYSE:HES traded down $3.00 during midday trading on Friday, reaching $147.96. 1,737,905 shares of the company were exchanged, compared to its average volume of 1,747,270. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The business's fifty day moving average is $141.02 and its two-hundred day moving average is $139.12. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The stock has a market cap of $45.59 billion, a PE ratio of 16.44 and a beta of 1.17.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data 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%. As a group, analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on HES. UBS Group upped their target price on shares of Hess from $185.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Citigroup upped their target price on shares of Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company raised shares of Hess from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. StockNews.com assumed coverage on shares of Hess in a research note on Saturday. They issued a "hold" rating for the company. Finally, Pickering Energy Partners raised shares of Hess to a "hold" rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average 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.