Hess Co. (NYSE:HES) Shares Sold by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. cut its position in shares of Hess Co. (NYSE:HES) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,189 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Hess accounts for 2.9% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 8th largest holding. Adams Natural Resources Fund Inc.’s holdings in Hess were worth $18,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HES. J.Safra Asset Management Corp acquired a new position in Hess during the fourth quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in shares of Hess during the 4th quarter worth approximately $27,000. Groupama Asset Managment increased its holdings in shares of Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 4,186 shares during the last quarter. Millstone Evans Group LLC bought a new stake in Hess in the 4th quarter valued at $33,000. Finally, FSA Wealth Management LLC acquired a new stake in Hess during the 3rd quarter valued at $37,000. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Hess Price Performance

Shares of NYSE HES opened at $156.59 on Friday. The business has a fifty day moving average price of $146.73 and a two-hundred day moving average price of $140.78. The stock has a market capitalization of $48.28 billion, a PE ratio of 17.40 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. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

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