Virtu Financial LLC Sells 22,164 Shares of Hess Co. (NYSE:HES)

Virtu Financial LLC reduced its position in shares of Hess Co. (NYSE:HES) by 62.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,189 shares of the oil and gas producer’s stock after selling 22,164 shares during the period. Virtu Financial LLC’s holdings in Hess were worth $1,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HES. HBK Investments L P grew its position in Hess by 16.7% during the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after buying an additional 1,017,720 shares in the last quarter. Geode Capital Management LLC grew its stake in Hess by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock worth $884,709,000 after buying an additional 74,085 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after buying an additional 1,391,311 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hess by 46.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock worth $389,787,000 after acquiring an additional 927,093 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Hess by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock valued at $244,483,000 after acquiring an additional 82,703 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Stock Down 0.5 %

Shares of NYSE:HES opened at $156.59 on Friday. The firm has a market capitalization of $48.28 billion, a P/E ratio of 17.40 and a beta of 1.21. 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 stock has a 50 day moving average price of $146.73 and a 200-day moving average price of $140.83. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings results 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, equities research analysts anticipate that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm 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 is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. Hess’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HES. UBS Group lifted 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. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Citigroup raised their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, StockNews.com began coverage on shares of Hess in a research note on Tuesday, March 18th. They set a “hold” rating for the company. Six equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus 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.