Voloridge Investment Management LLC Has $21.55 Million Holdings in Hess Co. (NYSE:HES)

Voloridge Investment Management LLC cut its position in Hess Co. (NYSE:HES) by 83.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,999 shares of the oil and gas producer’s stock after selling 830,959 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.05% of Hess worth $21,547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Hess in the 4th quarter worth approximately $3,117,000. Manning & Napier Advisors LLC acquired a new position in shares of Hess during the fourth quarter valued at about $2,274,000. Charles Schwab Investment Management Inc. raised its position in shares of Hess by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock valued at $244,483,000 after buying an additional 82,703 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Hess by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after buying an additional 1,861 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Hess by 14.7% during the fourth quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer’s stock valued at $44,300,000 after purchasing an additional 42,797 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Trading Down 0.2%

NYSE:HES opened at $129.93 on Friday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $161.69. The business’s 50-day moving average price is $138.03 and its two-hundred day moving average price is $141.20. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $40.19 billion, a price-to-earnings ratio of 14.44 and a beta of 0.61.

Hess (NYSE:HES) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $3.16 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities analysts expect 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 will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Hess’s dividend payout ratio is 27.66%.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of Hess from $193.00 to $191.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. UBS Group lowered their target price on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen began coverage on Hess in a research note on Wednesday. They issued a “hold” rating for the company. Susquehanna lowered their target price on Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, Scotiabank lowered their target price on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.16.

Hess Company 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.