Hess Co. (NYSE:HES) Stock Position Boosted by Silphium Asset Management Ltd

Silphium Asset Management Ltd lifted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,000 shares of the oil and gas producer's stock after purchasing an additional 55,000 shares during the quarter. Hess comprises approximately 7.2% of Silphium Asset Management Ltd's investment portfolio, making the stock its 2nd biggest position. Silphium Asset Management Ltd owned 0.05% of Hess worth $21,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HES. Sierra Ocean LLC purchased a new stake in Hess in the fourth quarter valued at approximately $27,000. Covestor Ltd boosted its holdings in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 98 shares during the period. FSA Wealth Management LLC acquired a new position in Hess in the 3rd quarter valued at about $37,000. LRI Investments LLC increased its stake in Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 217 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Hess during the fourth quarter worth about $49,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HES. Citigroup lifted their price objective on shares of Hess from $145.00 to $163.00 and gave the company a "neutral" rating in a report on Friday, December 6th. StockNews.com started coverage on shares of Hess in a research note on Sunday. They issued a "hold" rating for the company. UBS Group increased their price objective on Hess from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Pickering Energy Partners upgraded Hess to a "hold" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company upgraded Hess from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hess has an average rating of "Moderate Buy" and a consensus target price of $170.60.

Hess Stock Down 3.4 %

Shares of NYSE:HES traded down $5.11 on Monday, hitting $143.83. 2,527,748 shares of the company's stock were exchanged, compared to its average volume of 1,954,323. The firm's 50-day moving average is $142.65 and its 200 day moving average is $139.69. The company has a market capitalization of $44.32 billion, a PE ratio of 15.98 and a beta of 1.17. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. Sell-side analysts predict 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 Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. Hess's dividend payout ratio (DPR) is presently 22.22%.

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.