475 Shares in Hess Co. (NYSE:HES) Acquired by Avalon Trust Co

Avalon Trust Co purchased a new position in Hess Co. (NYSE:HES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 475 shares of the oil and gas producer’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HES. Wellington Management Group LLP grew its stake in shares of Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after buying an additional 1,391,311 shares during the last quarter. HBK Investments L P grew its stake in shares of Hess by 16.7% in the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after buying an additional 1,017,720 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Hess by 46.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock worth $389,787,000 after buying an additional 927,093 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Hess by 31.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after buying an additional 785,270 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Hess in the 3rd quarter worth approximately $75,126,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Price Performance

Shares of Hess stock opened at $148.21 on Friday. Hess Co. has a one year low of $123.79 and a one year high of $163.98. The stock’s fifty day moving average is $145.18 and its 200 day moving average is $140.21. The stock has a market cap of $45.69 billion, a P/E ratio of 16.47 and a beta of 1.21. 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 (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%. Sell-side analysts anticipate that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. Hess’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

HES has been the topic of several recent analyst reports. StockNews.com initiated coverage on Hess in a research note on Monday, March 10th. They set a “hold” rating on the stock. UBS Group increased their target price on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $193.00 in a research note on Monday, December 9th. Citigroup raised their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $170.60.

Hess Company 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.