183,343 Shares in Hess Co. (NYSE:HES) Acquired by Decagon Asset Management LLP

Decagon Asset Management LLP bought a new position in shares of Hess Co. (NYSE:HES) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 183,343 shares of the oil and gas producer’s stock, valued at approximately $24,386,000. Hess accounts for about 8.9% of Decagon Asset Management LLP’s portfolio, making the stock its 2nd largest position. Decagon Asset Management LLP owned approximately 0.06% of Hess as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HES. Checchi Capital Advisers LLC grew its stake in Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after buying an additional 72 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Hess by 1.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 73 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in Hess by 2.4% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after buying an additional 78 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Hess by 5.3% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 85 shares in the last quarter. Finally, Howard Capital Management Inc. grew its stake in Hess by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock worth $241,000 after buying an additional 90 shares in the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 1.6 %

Shares of HES opened at $152.81 on Wednesday. The stock has a market capitalization of $47.11 billion, a P/E ratio of 16.98 and a beta of 1.21. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $145.75 and a two-hundred day simple moving average of $140.43. Hess Co. has a twelve month low of $123.79 and a twelve month high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings data 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 net margin of 21.27% and a return on equity of 26.32%. On average, research analysts anticipate that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 1.31%. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

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

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.