Arizona State Retirement System Has $10.50 Million Position in Hess Co. (NYSE:HES)

Arizona State Retirement System cut its holdings in shares of Hess Co. (NYSE:HES) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,961 shares of the oil and gas producer’s stock after selling 547 shares during the quarter. Arizona State Retirement System’s holdings in Hess were worth $10,503,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. J.Safra Asset Management Corp bought a new stake in Hess during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in shares of Hess during the 4th quarter worth approximately $27,000. Groupama Asset Managment raised its stake in shares of Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Hess in the 3rd quarter valued at approximately $37,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Performance

HES opened at $143.35 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The company has a market capitalization of $44.19 billion, a PE ratio of 15.93 and a beta of 1.21. The business has a fifty day simple moving average of $143.64 and a 200 day simple moving average of $139.83. Hess Co. has a 1 year low of $123.79 and a 1 year high of $163.98.

Hess (NYSE:HES) last released its quarterly earnings results 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 expect that Hess Co. will post 8.08 EPS for the current 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 dividend of $0.50 per share. The ex-dividend date is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Hess’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

Several research firms have issued reports on HES. UBS Group upped their price target on shares of Hess from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $193.00 in a report on Monday, December 9th. StockNews.com began coverage on Hess in a research note on Sunday, March 2nd. They issued a “hold” rating on the stock. Finally, Citigroup lifted their target price on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Hess currently has an average rating of “Moderate Buy” and a consensus price target of $170.60.

About Hess

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.