316,954 Shares in Hess Co. (NYSE:HES) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Hess Co. (NYSE:HES - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 316,954 shares of the oil and gas producer's stock, valued at approximately $42,158,000. KLP Kapitalforvaltning AS owned about 0.10% of Hess as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. J.Safra Asset Management Corp acquired a new stake in shares of Hess in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in shares of Hess during the fourth quarter worth about $27,000. Millstone Evans Group LLC acquired a new stake in shares of Hess during the fourth quarter worth about $33,000. FSA Wealth Management LLC acquired a new position in shares of Hess in the third quarter valued at approximately $37,000. Finally, Rialto Wealth Management LLC purchased a new stake in Hess during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Performance

NYSE:HES traded up $2.10 during mid-day trading on Wednesday, reaching $160.39. 2,513,489 shares of the stock were exchanged, compared to its average volume of 1,761,873. The stock has a market capitalization of $49.45 billion, a P/E ratio of 17.82 and a beta of 1.21. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98. The company has a 50 day simple moving average of $147.22 and a 200-day simple moving average of $141.32. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

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Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, March 17th. Hess's payout ratio is currently 22.22%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Hess from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. StockNews.com began coverage on Hess in a report on Wednesday. They set a "hold" rating on the stock. Citigroup boosted their price objective on Hess from $145.00 to $163.00 and gave the stock 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. Finally, UBS Group boosted 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $170.60.

Hess 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.