DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 8,979 Shares of Hess Co. (NYSE:HES)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main decreased its position in Hess Co. (NYSE:HES) by 46.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,248 shares of the oil and gas producer’s stock after selling 8,979 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Hess were worth $1,363,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Concentric Capital Strategies LP bought a new stake in shares of Hess in the 4th quarter worth $7,018,000. Crestline Management LP bought a new stake in shares of Hess in the 4th quarter worth $1,716,000. Cubist Systematic Strategies LLC grew its stake in shares of Hess by 1,017.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 66,066 shares of the oil and gas producer’s stock worth $8,787,000 after acquiring an additional 73,266 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Hess by 5.0% in the 4th quarter. Cetera Investment Advisers now owns 19,643 shares of the oil and gas producer’s stock worth $2,613,000 after acquiring an additional 934 shares in the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Hess in the 4th quarter worth about $488,000. Institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HES. Susquehanna cut their price target on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Scotiabank cut their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a report on Friday, April 11th. StockNews.com began coverage on shares of Hess in a report on Monday, May 5th. They issued a “hold” rating on the stock. Finally, UBS Group cut their price target on shares of Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Hess has an average rating of “Hold” and a consensus target price of $164.46.

Hess Price Performance

NYSE HES opened at $132.06 on Monday. The company has a market cap of $40.85 billion, a PE ratio of 14.67 and a beta of 0.61. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $140.25 and its two-hundred day simple moving average is $141.46.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. Hess’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the company earned $3.16 earnings per share. Research analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, March 17th. Hess’s payout ratio is 27.66%.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

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.