Edgestream Partners L.P. Makes New $1.02 Million Investment in Hess Co. (NYSE:HES)

Edgestream Partners L.P. bought a new stake in shares of Hess Co. (NYSE:HES) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,676 shares of the oil and gas producer’s stock, valued at approximately $1,021,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Hess by 58.9% during 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 purchasing an additional 1,391,311 shares in the last quarter. HBK Investments L P grew its stake in shares of Hess by 16.7% in the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock valued at $966,600,000 after buying an additional 1,017,720 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 valued at $389,787,000 after purchasing an additional 927,093 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Hess by 31.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock valued at $450,696,000 after buying an additional 785,270 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Hess in the third quarter valued at about $75,126,000. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Hess Stock Performance

HES stock opened at $144.34 on Wednesday. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The firm has a market cap of $44.50 billion, a PE ratio of 16.04 and a beta of 1.21. The business has a 50 day moving average of $144.56 and a 200-day moving average of $140.07. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES) last announced 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%. As a group, sell-side analysts expect that Hess Co. will post 8.08 earnings per share 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 1.39%. Hess’s payout ratio is presently 22.22%.

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.