Assetmark Inc. Boosts Stock Holdings in Hess Co. (NYSE:HES)

Assetmark Inc. increased its position in shares of Hess Co. (NYSE:HES) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,741 shares of the oil and gas producer’s stock after purchasing an additional 1,098 shares during the period. Assetmark Inc.’s holdings in Hess were worth $2,360,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Hess during the fourth quarter worth about $3,117,000. Manning & Napier Advisors LLC purchased a new position in Hess during the fourth quarter worth about $2,274,000. Czech National Bank raised its holdings in 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 purchasing an additional 3,625 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Hess by 4.5% during 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. Finally, Franklin Resources Inc. grew its position in Hess by 20.8% during the third quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after buying an additional 208,996 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Hess in a research report on Monday. They set a “hold” rating on the stock. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a research report on Friday, January 3rd. UBS Group upped their target price on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.60.

Hess Stock Up 3.1 %

HES stock opened at $147.73 on Monday. The company’s 50 day simple moving average is $143.99 and its 200-day simple moving average is $139.94. The firm has a market capitalization of $45.55 billion, a PE ratio of 16.41 and a beta of 1.21. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating 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%. Equities analysts expect that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.50 per share. 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 1.35%. Hess’s dividend payout ratio (DPR) is currently 22.22%.

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.