Hess Co. (NYSE:HES) Stake Decreased by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of Hess Co. (NYSE:HES) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,115,208 shares of the oil and gas producer’s stock after selling 98,366 shares during the period. Franklin Resources Inc.’s holdings in Hess were worth $148,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Colrain Capital LLC bought a new position in shares of Hess in the fourth quarter worth $11,459,000. Wellington Management Group LLP grew its position in Hess by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer’s stock valued at $511,325,000 after buying an additional 91,131 shares in the last quarter. Partners in Financial Planning acquired a new position in Hess during the 4th quarter valued at about $598,000. O Shaughnessy Asset Management LLC raised its position in shares of Hess by 14.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,432 shares of the oil and gas producer’s stock worth $2,585,000 after buying an additional 2,455 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Hess in the 4th quarter worth approximately $2,489,000. 88.51% of the stock is owned by institutional investors.

Hess Stock Down 0.7 %

HES stock opened at $160.23 on Thursday. 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 firm has a market capitalization of $49.40 billion, a P/E ratio of 17.80 and a beta of 1.21. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company’s 50 day simple moving average is $148.51 and its 200-day simple moving average is $142.58.

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%. As a group, equities research analysts anticipate that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. Hess’s payout ratio is presently 22.22%.

Insider Activity

In related news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com initiated coverage on Hess in a report on Thursday. They set a “hold” rating on the stock. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Citigroup lifted their target price on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a report on Friday, January 3rd. Finally, UBS Group lifted their price objective 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hess has an average rating of “Moderate Buy” and a consensus 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.