Greenleaf Trust Decreases Holdings in Hess Co. (NYSE:HES)

Greenleaf Trust cut its stake in Hess Co. (NYSE:HES) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,247 shares of the oil and gas producer’s stock after selling 492 shares during the quarter. Greenleaf Trust’s holdings in Hess were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HES. Wellington Management Group LLP raised its holdings in shares of Hess by 58.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after buying an additional 1,391,311 shares during the period. HBK Investments L P raised its stake in shares of Hess by 16.7% during the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock valued at $966,600,000 after purchasing an additional 1,017,720 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after purchasing an additional 785,270 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Hess during the third quarter worth $75,126,000. Finally, ING Groep NV boosted its stake in shares of Hess by 267.8% in the third quarter. ING Groep NV now owns 533,264 shares of the oil and gas producer’s stock valued at $72,417,000 after purchasing an additional 388,273 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Buying and Selling

In related news, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $147.80, for a total value of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. This trade represents a 28.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.76% of the company’s stock.

Hess Stock Performance

Hess stock opened at $142.75 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a fifty day moving average price of $140.49 and a two-hundred day moving average price of $139.02. The company has a market cap of $43.98 billion, a PE ratio of 15.86 and a beta of 1.17.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. Research analysts expect that Hess Co. will post 7.69 earnings per share for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

HES has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Wells Fargo & Company raised 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. Susquehanna lifted their price objective on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, UBS Group lifted their price target on shares of Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.50.

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.