Angelo Gordon & CO. L.P. Decreases Holdings in Hess Co. (NYSE:HES)

Angelo Gordon & CO. L.P. cut its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the oil and gas producer's stock after selling 17,500 shares during the period. Hess comprises about 2.1% of Angelo Gordon & CO. L.P.'s portfolio, making the stock its 17th biggest position. Angelo Gordon & CO. L.P.'s holdings in Hess were worth $10,641,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. J.Safra Asset Management Corp purchased a new stake in shares of Hess in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in Hess in the fourth quarter valued at $27,000. Millstone Evans Group LLC purchased a new stake in Hess during the 4th quarter worth about $33,000. Rialto Wealth Management LLC acquired a new position in shares of Hess during the 4th quarter worth about $37,000. Finally, Zions Bancorporation N.A. increased its holdings in shares of Hess by 225.6% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Hess Stock Performance

Hess stock traded down $3.45 during mid-day trading on Monday, reaching $128.86. 1,996,111 shares of the company were exchanged, compared to its average volume of 1,841,760. The firm has a market cap of $39.86 billion, a PE ratio of 14.32 and a beta of 0.61. 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 firm's 50-day simple moving average is $141.47 and its two-hundred day simple moving average is $141.69. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69.

Hess (NYSE:HES - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business's quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the business earned $3.16 earnings per share. Equities analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. Hess's payout ratio is currently 27.66%.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group lowered their price target on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Scotiabank dropped their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. StockNews.com started coverage on shares of Hess in a research report on Monday. They issued a "hold" rating for the company. Finally, Susquehanna decreased their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $164.46.

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.