Hess Co. (NYSE:HES) Shares Acquired by Highbridge Capital Management LLC

Highbridge Capital Management LLC increased its holdings in shares of Hess Co. (NYSE:HES) by 28.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 579,445 shares of the oil and gas producer’s stock after acquiring an additional 128,146 shares during the period. Hess makes up about 3.0% of Highbridge Capital Management LLC’s portfolio, making the stock its 5th largest holding. Highbridge Capital Management LLC’s holdings in Hess were worth $77,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP raised its position in 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 during the period. HBK Investments L P increased its stake in shares of Hess by 16.7% during the third 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 position in shares of Hess by 46.3% during the 4th 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. Holocene Advisors LP purchased a new position in Hess in the 3rd quarter valued at about $75,126,000. Finally, Erste Asset Management GmbH acquired a new stake in Hess in the 4th quarter worth about $47,056,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HES. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. 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 research report on Thursday, February 13th. StockNews.com initiated coverage on shares of Hess in a research note on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. Finally, Citigroup boosted their price target on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Hess currently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

Hess Trading Down 0.9 %

Shares of Hess stock opened at $159.10 on Friday. The company has a market capitalization of $49.05 billion, a P/E ratio of 17.68 and a beta of 1.21. The business has a 50 day moving average price of $147.64 and a 200 day moving average price of $141.58. 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 current ratio of 1.12 and a quick ratio of 1.13.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Hess Co. will post 8.08 EPS 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 paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. 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.