Levin Capital Strategies L.P. Invests $13.29 Million in Hess Co. (NYSE:HES)

Levin Capital Strategies L.P. purchased a new position in shares of Hess Co. (NYSE:HES) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 99,880 shares of the oil and gas producer’s stock, valued at approximately $13,285,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Hess during the 4th quarter worth about $3,117,000. Manning & Napier Advisors LLC purchased a new stake in shares of Hess during the 4th quarter worth about $2,274,000. Czech National Bank raised its stake in shares of Hess by 6.4% during the 4th 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 stake in shares of Hess by 4.5% during the 4th 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. raised its stake in shares of Hess by 20.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,213,574 shares of the oil and gas producer’s stock worth $169,767,000 after purchasing an additional 208,996 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Performance

HES opened at $149.04 on Friday. The firm has a market capitalization of $45.92 billion, a P/E ratio of 16.56 and a beta of 1.17. The stock’s 50 day moving average price is $142.65 and its two-hundred day moving average price is $139.65. 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 Co. has a 12-month low of $123.79 and a 12-month high of $163.98.

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

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Monday, December 16th. Hess’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. UBS Group raised their price objective on Hess from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com assumed coverage on Hess in a research note on Sunday. They issued a “hold” rating on the stock. 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 issued a buy rating to the company. According to data from MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average target price 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.