Illinois Municipal Retirement Fund Has $5.56 Million Stake in Hess Co. (NYSE:HES)

Illinois Municipal Retirement Fund lowered its stake in Hess Co. (NYSE:HES) by 47.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,828 shares of the oil and gas producer’s stock after selling 37,550 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Hess were worth $5,564,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of Hess in the 4th quarter valued at approximately $27,000. Covestor Ltd grew its holdings in Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Hess in the third quarter valued at approximately $37,000. LRI Investments LLC lifted its stake in shares of Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 217 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Hess during the 3rd quarter worth $55,000. Institutional investors own 88.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on HES shares. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. UBS Group raised their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup boosted their price objective on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $151.00 to $193.00 in a report on Monday, December 9th. Finally, StockNews.com began coverage on Hess in a research report on Saturday, February 22nd. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $170.60.

Hess Price Performance

Shares of NYSE:HES opened at $145.42 on Thursday. The firm has a market capitalization of $44.81 billion, a PE ratio of 16.16 and a beta of 1.17. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The business’s 50 day moving average is $141.84 and its 200-day moving average is $139.47.

Hess (NYSE:HES) last issued its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS 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%. Sell-side analysts predict that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.38%. Hess’s payout ratio is currently 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.