UniSuper Management Pty Ltd Increases Stock Holdings in Hess Co. (NYSE:HES)

UniSuper Management Pty Ltd raised its position in shares of Hess Co. (NYSE:HES) by 21.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,121 shares of the oil and gas producer’s stock after acquiring an additional 4,323 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Hess were worth $3,208,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in Hess in the fourth quarter worth about $3,117,000. Manning & Napier Advisors LLC purchased a new position in Hess in the 4th quarter worth approximately $2,274,000. Czech National Bank raised its holdings in Hess by 6.4% in the 4th quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock worth $7,971,000 after acquiring an additional 3,625 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hess by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer’s stock valued at $244,483,000 after acquiring an additional 82,703 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer’s stock valued at $5,731,000 after purchasing an additional 1,861 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Stock Down 0.4 %

HES opened at $158.48 on Friday. The firm’s 50 day simple moving average is $147.78 and its two-hundred day simple moving average is $141.89. The company has a market capitalization of $48.86 billion, a PE ratio of 17.61 and a beta of 1.21. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last announced 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 return on equity of 26.32% and a net margin of 21.27%. As a group, equities analysts forecast that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Hess’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Hess

In other 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.76% of the stock is currently owned by corporate insiders.

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.