Adams Natural Resources Fund Inc. Sells 2,000 Shares of Hess Co. (NYSE:HES)

Adams Natural Resources Fund Inc. cut its holdings in Hess Co. (NYSE:HES) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,189 shares of the oil and gas producer’s stock after selling 2,000 shares during the quarter. Hess makes up 2.9% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 8th largest position. Adams Natural Resources Fund Inc.’s holdings in Hess were worth $18,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HBK Investments L P raised its position in shares of Hess by 16.7% during the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after acquiring an additional 1,017,720 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hess by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock worth $884,709,000 after purchasing an additional 74,085 shares during the last quarter. Wellington Management Group LLP lifted its position in Hess by 58.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after purchasing an additional 1,391,311 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Hess by 31.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock valued at $450,696,000 after purchasing an additional 785,270 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Hess by 46.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,930,509 shares of the oil and gas producer’s stock valued at $389,787,000 after purchasing an additional 927,093 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Down 0.5 %

Shares of Hess stock opened at $156.59 on Friday. Hess Co. has a 52-week low of $123.79 and a 52-week high of $163.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The business’s 50 day simple moving average is $146.73 and its 200 day simple moving average is $140.78. The firm has a market cap of $48.28 billion, a PE ratio of 17.40 and a beta of 1.21.

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

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.28%. Hess’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Hess in a report on Tuesday. They issued a “hold” rating on the stock. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $151.00 to $193.00 in a research note on Monday, December 9th. Pickering Energy Partners raised Hess to a “hold” rating in a research note on Friday, January 3rd. Citigroup increased their target price on Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.