KLP Kapitalforvaltning AS Invests $42.16 Million in Hess Co. (NYSE:HES)

KLP Kapitalforvaltning AS bought a new position in shares of Hess Co. (NYSE:HES) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 316,954 shares of the oil and gas producer’s stock, valued at approximately $42,158,000.

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

Wall Street Analyst Weigh In

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

Hess Stock Down 0.5 %

HES stock opened at $156.59 on Friday. The stock’s fifty day simple moving average is $146.73 and its two-hundred day simple moving average is $140.78. 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 Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The stock has a market cap of $48.28 billion, a P/E ratio of 17.40 and a beta of 1.21.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share 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%. Analysts expect that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Hess’s payout ratio is presently 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.