Shell Asset Management Co. Trims Stock Position in Hess Co. (NYSE:HES)

Shell Asset Management Co. trimmed its holdings in Hess Co. (NYSE:HES - Free Report) by 84.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 910 shares of the oil and gas producer's stock after selling 4,874 shares during the period. Shell Asset Management Co.'s holdings in Hess were worth $121,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HES. Checchi Capital Advisers LLC boosted its position in shares of Hess by 3.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock worth $287,000 after acquiring an additional 72 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Hess by 1.9% during 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 period. Moss Adams Wealth Advisors LLC raised its stake in Hess by 5.3% during 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 purchasing an additional 85 shares during the period. Howard Capital Management Inc. boosted its holdings in shares of Hess by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock valued at $241,000 after purchasing an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of 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 during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction on Thursday, March 27th. The shares were 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 in the company, valued at approximately $379,879,364.70. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.10% of the company's stock.

Hess Stock Down 1.6%

NYSE HES opened at $132.83 on Tuesday. 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 Co. has a fifty-two week low of $123.79 and a fifty-two week high of $161.69. The business has a 50 day moving average price of $139.03 and a two-hundred day moving average price of $141.40. The stock has a market cap of $41.09 billion, a PE ratio of 14.76 and a beta of 0.61.

Hess (NYSE:HES - Get Free Report) last released its quarterly earnings results 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). 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 analyst estimates of $2.95 billion. During the same period in the previous year, the business posted $3.16 earnings per share. Hess's revenue for the quarter was down 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. Hess's dividend payout ratio is presently 27.66%.

Analyst Ratings Changes

Several research analysts recently weighed in on HES shares. Mizuho cut their target price on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. StockNews.com began coverage on Hess in a research note on Tuesday, May 13th. They set a "hold" rating for the company. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Scotiabank decreased their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, Susquehanna dropped their target price on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Six research 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.16.

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.

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