Hess Co. (NYSE:HES) Shares Sold by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd trimmed its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 423,366 shares of the oil and gas producer's stock after selling 6,519 shares during the quarter. Hess accounts for approximately 6.8% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 3rd largest holding. Melqart Asset Management UK Ltd owned approximately 0.14% of Hess worth $56,312,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp bought a new stake in shares of Hess during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in shares of Hess during the 4th quarter worth $27,000. Millstone Evans Group LLC bought a new position in shares of Hess during the 4th quarter worth $33,000. Rialto Wealth Management LLC bought a new stake in shares of Hess in the fourth quarter valued at about $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 worth $39,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Performance

Shares of NYSE HES traded up $0.81 during mid-day trading on Thursday, hitting $129.86. The stock had a trading volume of 1,543,123 shares, compared to its average volume of 1,883,559. The company has a 50 day moving average of $142.48 and a two-hundred day moving average of $141.81. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69. 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 has a market cap of $40.17 billion, a PE ratio of 14.43 and a beta of 0.88.

Hess (NYSE:HES - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm earned $3.16 EPS. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. Research 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 was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.54%. Hess's dividend payout ratio (DPR) is presently 22.22%.

Insider Activity at Hess

In other news, CEO John B. Hess sold 175,000 shares of Hess 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 transaction, the chief executive officer now directly owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HES has been the subject of several research reports. Pickering Energy Partners raised shares of Hess to a "hold" rating in a research report on Friday, January 3rd. 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. StockNews.com began coverage on Hess in a research report on Sunday. They set a "hold" rating on the stock. 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 report on Wednesday, April 16th. Finally, Susquehanna cut their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.46.

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.