Hess Co. (NYSE:HES) Stock Holdings Cut by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd reduced its holdings in Hess Co. (NYSE:HES) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 423,366 shares of the oil and gas producer’s stock after selling 6,519 shares during the period. Hess makes up 6.8% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 3rd largest holding. Melqart Asset Management UK Ltd’s holdings in Hess were worth $56,312,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in shares of Hess in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in Hess in the fourth quarter worth $27,000. Millstone Evans Group LLC purchased a new position in Hess during the fourth quarter worth $33,000. Rialto Wealth Management LLC purchased a new position in Hess during the fourth quarter worth $37,000. Finally, Zions Bancorporation N.A. increased its position in Hess by 225.6% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 203 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Price Performance

HES opened at $132.43 on Friday. The firm has a market cap of $40.83 billion, a price-to-earnings ratio of 14.71 and a beta of 0.88. 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 stock’s 50-day moving average price is $143.54 and its 200 day moving average price is $141.99. Hess Co. has a 12-month low of $123.79 and a 12-month 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 the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. As a group, sell-side analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 1.51%. Hess’s dividend payout ratio is currently 22.22%.

Insider Activity at Hess

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

Analysts Set New Price Targets

HES has been the topic of several recent analyst reports. Susquehanna reduced their price target on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. StockNews.com started coverage on Hess in a research note on Sunday. They issued a “hold” rating on the stock. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group decreased their price objective 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, Scotiabank lowered their price objective on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.