Hess Co. (NYSE:HES) Position Cut by Lindbrook Capital LLC

Lindbrook Capital LLC trimmed its holdings in Hess Co. (NYSE:HES) by 39.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379 shares of the oil and gas producer’s stock after selling 249 shares during the quarter. Lindbrook Capital LLC’s holdings in Hess were worth $50,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in Hess in the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in Hess in the fourth quarter worth approximately $27,000. Covestor Ltd lifted its position in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares during the period. FSA Wealth Management LLC acquired a new stake in Hess in the third quarter worth approximately $37,000. Finally, LRI Investments LLC lifted its position in Hess by 157.2% in the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 217 shares during the period. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Hess in a research report on Sunday, March 2nd. They issued a “hold” rating for the company. Pickering Energy Partners upgraded Hess to a “hold” rating in a research report on Friday, January 3rd. UBS Group upped their target price on 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 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 Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Six 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.60.

Hess Price Performance

HES opened at $147.73 on Friday. The stock has a fifty day moving average of $143.99 and a 200-day moving average of $139.92. The firm has a market capitalization of $45.55 billion, a P/E 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 quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

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%. Equities analysts forecast that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.35%. Hess’s payout ratio is currently 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.