Kentucky Retirement Systems Trims Stock Holdings in Hess Co. (NYSE:HES)

Kentucky Retirement Systems trimmed its position in Hess Co. (NYSE:HES) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,993 shares of the oil and gas producer’s stock after selling 261 shares during the period. Kentucky Retirement Systems’ holdings in Hess were worth $2,526,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HES. Sierra Ocean LLC purchased a new stake in Hess in the fourth quarter worth $27,000. Groupama Asset Managment grew its stake in shares of Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 4,186 shares during the last quarter. Covestor Ltd grew its stake in shares of Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 98 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Hess in the third quarter worth $37,000. Finally, Eastern Bank purchased a new stake in shares of Hess in the third quarter worth $48,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Down 2.0 %

HES stock opened at $147.96 on Friday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The business’s 50-day moving average is $141.02 and its two-hundred day moving average is $139.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 16.44 and a beta of 1.17.

Hess (NYSE:HES) last posted 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%. As a group, analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, December 16th. Hess’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

HES has been the topic of a number of recent research reports. UBS Group increased their target price on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Citigroup increased 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. Finally, StockNews.com initiated coverage on Hess in a research report on Saturday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

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.