Hess Co. (NYSE:HES) Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Hess Co. (NYSE:HES) by 780.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,358 shares of the oil and gas producer’s stock after purchasing an additional 14,501 shares during the quarter. Teacher Retirement System of Texas’ holdings in Hess were worth $2,176,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HES. J.Safra Asset Management Corp bought a new stake in shares of Hess in the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in Hess in the 4th quarter worth about $27,000. FSA Wealth Management LLC purchased a new position in Hess during the third quarter valued at approximately $37,000. Rialto Wealth Management LLC acquired a new position in shares of Hess in the fourth quarter worth $37,000. Finally, LRI Investments LLC raised its stake in shares of Hess by 157.2% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Performance

NYSE HES opened at $160.39 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 17.82 and a beta of 1.21. The company has a 50 day moving average of $147.45 and a 200-day moving average of $141.46. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98.

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

Hess Announces Dividend

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, March 17th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

HES has been the subject of several analyst reports. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. Citigroup raised their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com initiated coverage on Hess in a research note on Wednesday. They set a “hold” rating on the stock. Finally, UBS Group boosted their price target on shares of Hess from $185.00 to $186.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.60.

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.