Woodline Partners LP Has $23.49 Million Stake in Hess Co. (NYSE:HES)

Woodline Partners LP lifted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 176,600 shares of the oil and gas producer's stock after buying an additional 36,528 shares during the period. Woodline Partners LP owned 0.06% of Hess worth $23,490,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on HES. Wall Street Zen began coverage on shares of Hess in a research report on Wednesday, May 21st. They set a "hold" rating for the company. UBS Group reduced their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Mizuho dropped their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Finally, Susquehanna decreased their price objective on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Hess presently has a consensus rating of "Moderate Buy" and an average price target of $162.16.

Hess Price Performance

HES traded up $1.32 during trading on Monday, reaching $131.34. The stock had a trading volume of 1,793,638 shares, compared to its average volume of 1,792,098. Hess Co. has a 1-year low of $123.79 and a 1-year high of $161.69. The firm has a market capitalization of $40.62 billion, a price-to-earnings ratio of 14.59 and a beta of 0.61. The stock has a 50 day moving average of $137.60 and a two-hundred day moving average of $141.12. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the business earned $3.16 EPS. The company's quarterly revenue was down 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. Hess's dividend payout ratio is currently 27.66%.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.10% of the company's stock.

About Hess

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.