DLD Asset Management LP Sells 3,453 Shares of Hess Co. (NYSE:HES)

DLD Asset Management LP lowered its stake in Hess Co. (NYSE:HES) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,389 shares of the oil and gas producer’s stock after selling 3,453 shares during the quarter. Hess comprises approximately 0.4% of DLD Asset Management LP’s investment portfolio, making the stock its 29th biggest holding. DLD Asset Management LP’s holdings in Hess were worth $3,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. J.Safra Asset Management Corp bought a new position in shares of Hess during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in Hess during the 4th quarter worth approximately $27,000. Millstone Evans Group LLC bought a new position in shares of Hess during the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC acquired a new stake in shares of Hess in the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. lifted its position in shares of 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 purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HES shares. Citigroup raised their target price on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. UBS Group lifted their target price on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Pickering Energy Partners raised Hess to a “hold” rating in a research report on Friday, January 3rd. StockNews.com began coverage on Hess in a research report on Wednesday, March 26th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.60.

Insider Activity

In related 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 transaction of $27,877,500.00. Following the sale, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.76% of the company’s stock.

Hess Stock Performance

Shares of NYSE HES opened at $161.32 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $49.73 billion, a P/E ratio of 17.92 and a beta of 1.21. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The stock has a 50 day moving average of $148.21 and a 200-day moving average of $142.46.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.32%. As a group, equities research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Monday, March 17th. Hess’s dividend payout ratio (DPR) is currently 22.22%.

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.