Hess Co. (NYSE:HES) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in Hess Co. (NYSE:HES) by 12.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,816 shares of the oil and gas producer’s stock after buying an additional 1,469 shares during the period. King Luther Capital Management Corp’s holdings in Hess were worth $1,705,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in Hess during the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new position in shares of Hess in the fourth quarter valued at approximately $27,000. Covestor Ltd raised its stake in shares of Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Hess during the third quarter worth $37,000. Finally, Rialto Wealth Management LLC purchased a new position in Hess in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Down 0.6 %

HES opened at $143.79 on Thursday. 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 $44.33 billion, a price-to-earnings ratio of 15.98 and a beta of 1.21. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The business’s fifty day moving average is $144.77 and its two-hundred day moving average is $140.10.

Hess (NYSE:HES) last released its quarterly earnings data 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 net margin of 21.27% and a return on equity of 26.32%. Analysts anticipate that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. Hess’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

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

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.