Livforsakringsbolaget Skandia Omsesidigt Lowers Stake in Hess Co. (NYSE:HES)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of Hess Co. (NYSE:HES) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,748 shares of the oil and gas producer’s stock after selling 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Hess were worth $232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HES. Covestor Ltd lifted its stake in Hess by 59.8% during the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Hess during the 3rd quarter valued at about $37,000. Eastern Bank bought a new stake in Hess in the 3rd quarter worth approximately $48,000. LRI Investments LLC boosted its stake in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 217 shares in the last quarter. Finally, Coastline Trust Co bought a new position in Hess during the third quarter valued at approximately $55,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Hess Trading Up 0.7 %

NYSE HES opened at $142.99 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The stock has a market cap of $44.06 billion, a P/E ratio of 15.89 and a beta of 1.17. The stock has a 50 day simple moving average of $140.31 and a two-hundred day simple moving average of $139.07.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. On average, analysts forecast that Hess Co. will post 7.69 earnings per share for the current year.

Hess Dividend Announcement

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

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the transaction, the chief executive officer now owns 229,465 shares in the company, valued at approximately $33,914,927. This 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. 9.76% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HES. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. StockNews.com began coverage on shares of Hess in a research note on Thursday. They issued a “hold” rating for the company. Citigroup raised their price objective on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Susquehanna boosted their target price on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group raised their price target on Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Hess presently has a consensus rating of “Moderate Buy” and an average target price of $170.50.

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.