Levin Capital Strategies L.P. Takes $13.29 Million Position in Hess Co. (NYSE:HES)

Levin Capital Strategies L.P. purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 99,880 shares of the oil and gas producer's stock, valued at approximately $13,285,000.

Several other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Hess by 58.9% during the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer's stock worth $509,675,000 after acquiring an additional 1,391,311 shares in the last quarter. HBK Investments L P increased its holdings in Hess by 16.7% during the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer's stock worth $966,600,000 after purchasing an additional 1,017,720 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hess by 46.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer's stock worth $389,787,000 after purchasing an additional 927,093 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hess by 31.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer's stock worth $450,696,000 after purchasing an additional 785,270 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Hess in the third quarter valued at approximately $75,126,000. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Performance

Shares of HES stock traded down $5.11 during trading hours on Monday, hitting $143.83. 2,527,748 shares of the company were exchanged, compared to its average volume of 1,954,323. 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 stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 15.98 and a beta of 1.17. The firm has a fifty day simple moving average of $142.93 and a 200 day simple moving average of $139.75. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

Hess (NYSE:HES - Get Free Report) last released 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 return on equity of 26.32% and a net margin of 21.27%. Research analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, December 16th. Hess's dividend payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

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