DLD Asset Management LP Has $3.11 Million Stock Holdings in Hess Co. (NYSE:HES)

DLD Asset Management LP decreased its position in shares of Hess Co. (NYSE:HES) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,389 shares of the oil and gas producer’s stock after selling 3,453 shares during the period. Hess accounts for approximately 0.4% of DLD Asset Management LP’s portfolio, making the stock its 29th biggest position. DLD Asset Management LP’s holdings in Hess were worth $3,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HES. Wellington Management Group LLP lifted its stake in shares of Hess by 58.9% in 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 purchasing an additional 1,391,311 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hess by 46.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock worth $389,787,000 after buying an additional 927,093 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Hess during the 3rd quarter worth about $75,126,000. Erste Asset Management GmbH acquired a new position in shares of Hess during the 4th quarter valued at about $47,056,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Hess in the 4th quarter valued at approximately $42,158,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the company’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 value of $27,877,500.00. Following the completion of the sale, the chief executive officer now owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.76% of the company’s stock.

Analysts Set New Price Targets

HES has been the topic of several analyst reports. Citigroup increased their price target on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. StockNews.com began coverage on shares of Hess in a report on Wednesday, March 26th. They issued a “hold” rating on the stock. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. UBS Group raised their price target on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.60.

Hess Stock Up 1.0 %

Shares of NYSE:HES opened at $161.32 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 17.92 and a beta of 1.21. The company has a 50 day moving average of $148.21 and a 200-day moving average of $142.46. Hess Co. has a one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES) last released its earnings results 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%. On average, sell-side analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

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

Hess Profile

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.