Marshall Wace LLP Sells 876,956 Shares of Hess Co. (NYSE:HES)

Marshall Wace LLP reduced its stake in Hess Co. (NYSE:HES - Free Report) by 67.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 417,616 shares of the oil and gas producer's stock after selling 876,956 shares during the period. Marshall Wace LLP owned approximately 0.14% of Hess worth $55,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in shares of Hess during the fourth quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Hess during the 4th quarter worth approximately $27,000. Millstone Evans Group LLC bought a new stake in shares of Hess during the fourth quarter worth approximately $33,000. Rialto Wealth Management LLC acquired a new position in Hess in the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. grew its holdings in Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock worth $39,000 after acquiring an additional 203 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Stock Performance

Shares of HES stock traded down $1.55 during trading on Wednesday, reaching $128.83. 622,641 shares of the company's stock were exchanged, compared to its average volume of 1,884,896. The firm's fifty day moving average price is $144.46 and its 200-day moving average price is $142.13. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98. The stock has a market capitalization of $39.72 billion, a PE ratio of 14.31 and a beta of 0.88. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, March 17th. Hess's dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

HES has been the topic of several recent research reports. Pickering Energy Partners upgraded Hess to a "hold" rating in a research report on Friday, January 3rd. UBS Group decreased their price target on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Scotiabank dropped their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. StockNews.com assumed coverage on Hess in a research report on Saturday. They issued a "hold" rating for the company. Finally, Susquehanna reduced their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Hess has an average rating of "Hold" and a consensus target price of $164.46.

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 that occurred on 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 completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.10% of the company's stock.

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.