New York State Common Retirement Fund Lowers Stock Holdings in Hess Co. (NYSE:HES)

New York State Common Retirement Fund decreased its position in shares of Hess Co. (NYSE:HES) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,771 shares of the oil and gas producer’s stock after selling 2,995 shares during the quarter. New York State Common Retirement Fund’s holdings in Hess were worth $31,227,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HES. Creative Planning lifted its stake in Hess by 1.3% in the 3rd quarter. Creative Planning now owns 19,369 shares of the oil and gas producer’s stock worth $2,630,000 after purchasing an additional 241 shares in the last quarter. Blue Trust Inc. lifted its stake in Hess by 60.8% in the 3rd quarter. Blue Trust Inc. now owns 1,219 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 461 shares in the last quarter. Raymond James & Associates lifted its stake in Hess by 100.2% in the 3rd quarter. Raymond James & Associates now owns 98,429 shares of the oil and gas producer’s stock worth $13,367,000 after purchasing an additional 49,267 shares in the last quarter. Eastern Bank purchased a new stake in Hess in the 3rd quarter worth $48,000. Finally, Private Advisor Group LLC lifted its stake in Hess by 21.5% in the 3rd quarter. Private Advisor Group LLC now owns 15,126 shares of the oil and gas producer’s stock worth $2,054,000 after purchasing an additional 2,673 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Shares of NYSE:HES opened at $151.19 on Friday. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 16.80 and a beta of 1.17. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The firm’s 50-day moving average is $140.66 and its 200 day moving average is $138.92. 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 issued 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 net margin of 21.27% and a return on equity of 26.32%. Research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Hess’s dividend payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HES. StockNews.com began coverage on shares of Hess in a report on Friday, February 14th. They issued a “hold” rating on the stock. Pickering Energy Partners upgraded shares of Hess to a “hold” rating in a report on Friday, January 3rd. Citigroup boosted their target price on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Finally, UBS Group boosted their target price on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.60.

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.