Prudential Financial Inc. Sells 20,022 Shares of Hess Co. (NYSE:HES)

Prudential Financial Inc. lowered its stake in shares of Hess Co. (NYSE:HES) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,044 shares of the oil and gas producer’s stock after selling 20,022 shares during the period. Prudential Financial Inc.’s holdings in Hess were worth $19,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Checchi Capital Advisers LLC increased its holdings in Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock valued at $287,000 after acquiring an additional 72 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after purchasing an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of Hess by 5.3% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 85 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after buying an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Hess by 18.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Trading Up 1.3 %

Shares of NYSE HES opened at $160.39 on Thursday. The business’s 50 day moving average price is $147.45 and its 200-day moving average price is $141.46. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. 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 $49.45 billion, a price-to-earnings ratio of 17.82 and a beta of 1.21.

Hess (NYSE:HES) last released its 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%. On average, sell-side analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group increased their target price on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. Citigroup boosted their target price 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 raised shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. Finally, StockNews.com assumed coverage on Hess in a research note on Wednesday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hess presently has an average rating of “Moderate Buy” and a consensus 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.