Van ECK Associates Corp Acquires 2,119 Shares of Hess Co. (NYSE:HES)

Van ECK Associates Corp raised its holdings in shares of Hess Co. (NYSE:HES) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,358 shares of the oil and gas producer’s stock after purchasing an additional 2,119 shares during the quarter. Van ECK Associates Corp’s holdings in Hess were worth $3,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its stake in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Hess in the 3rd quarter worth $37,000. Eastern Bank bought a new stake in shares of Hess in the 3rd quarter worth $48,000. LRI Investments LLC grew its stake in shares of Hess by 157.2% in the 3rd quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 217 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Hess in the 3rd quarter worth $55,000. Institutional investors own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hess Price Performance

NYSE HES opened at $151.19 on Friday. The company has a market cap of $46.58 billion, a PE ratio of 16.80 and a beta of 1.17. Hess Co. has a 52 week low of $123.79 and a 52 week 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. The firm’s 50-day simple moving average is $140.66 and its two-hundred day simple moving average is $138.92.

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

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio (DPR) is presently 22.22%.

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.