KLP Kapitalforvaltning AS Acquires New Holdings in Hess Co. (NYSE:HES)

KLP Kapitalforvaltning AS acquired a new stake in shares of Hess Co. (NYSE:HES) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 316,954 shares of the oil and gas producer’s stock, valued at approximately $42,158,000. KLP Kapitalforvaltning AS owned approximately 0.10% of Hess as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in shares of Hess by 3.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after purchasing an additional 72 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after acquiring an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in shares of Hess by 5.3% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 85 shares during the last quarter. Howard Capital Management Inc. boosted its stake in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Hess by 18.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after buying an additional 96 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Stock Down 0.5 %

HES opened at $156.59 on Friday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The stock’s fifty day simple moving average is $146.73 and its 200 day simple moving average is $140.78. 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 stock has a market cap of $48.28 billion, a PE ratio of 17.40 and a beta of 1.21.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, March 17th. Hess’s payout ratio is 22.22%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HES shares. Citigroup lifted their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com initiated coverage on Hess in a report on Tuesday. They issued a “hold” rating for the company. UBS Group boosted their price objective on Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Pickering Energy Partners raised 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 boosted their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.