DnB Asset Management AS Buys 3,031 Shares of Hess Co. (NYSE:HES)

DnB Asset Management AS grew its position in shares of Hess Co. (NYSE:HES) by 5.5% in the 4th quarter, HoldingsChannel reports. The fund owned 57,826 shares of the oil and gas producer’s stock after buying an additional 3,031 shares during the period. DnB Asset Management AS’s holdings in Hess were worth $7,691,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in shares of Hess by 10.3% during the 3rd quarter. Cerity Partners LLC now owns 18,862 shares of the oil and gas producer’s stock valued at $2,561,000 after purchasing an additional 1,764 shares during the last quarter. Townsquare Capital LLC purchased a new position in Hess during the 3rd quarter valued at about $298,000. Glenmede Trust Co. NA increased its holdings in Hess by 37.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,474 shares of the oil and gas producer’s stock worth $336,000 after acquiring an additional 680 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Hess in the third quarter worth $1,052,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Hess in the 3rd quarter valued at about $37,000. 88.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HES shares. Citigroup lifted their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. UBS Group increased their price target on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com began coverage on shares of Hess in a research note on Wednesday, March 26th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hess presently has an average rating of “Moderate Buy” and a consensus target price of $170.60.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of the business’s stock in a transaction that occurred on 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. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.76% of the stock is currently owned by corporate insiders.

Hess Stock Down 0.4 %

Hess stock opened at $158.48 on Monday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The stock has a market capitalization of $48.86 billion, a price-to-earnings ratio of 17.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The business has a fifty day moving average price of $147.78 and a 200-day moving average price of $142.00.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s dividend payout ratio is presently 22.22%.

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.