Boussard & Gavaudan Investment Management LLP Reduces Stock Holdings in Hess Co. (NYSE:HES)

Boussard & Gavaudan Investment Management LLP reduced its stake in shares of Hess Co. (NYSE:HES) by 18.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,934 shares of the oil and gas producer’s stock after selling 60,176 shares during the quarter. Hess makes up 2.9% of Boussard & Gavaudan Investment Management LLP’s holdings, making the stock its 10th largest position. Boussard & Gavaudan Investment Management LLP’s holdings in Hess were worth $35,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp acquired a new stake in shares of Hess in the 4th quarter worth $25,000. Sierra Ocean LLC purchased a new stake in Hess during the 4th quarter worth approximately $27,000. Groupama Asset Managment increased its stake in Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 4,186 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Hess in the fourth quarter worth $33,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Hess during the third quarter worth $37,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Shares of Hess stock opened at $159.10 on Friday. The business’s 50 day moving average price is $147.64 and its 200 day moving average price is $141.58. The company has a market cap of $49.05 billion, a price-to-earnings ratio of 17.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a one year low of $123.79 and a one year high of $163.98.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, topping the consensus estimate of $1.44 by $0.32. Hess had a return on equity of 26.32% and a net margin of 21.27%. On average, research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, March 17th. Hess’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

HES has been the topic of several research reports. StockNews.com began coverage on Hess in a research report on Wednesday. They issued a “hold” rating on the stock. Pickering Energy Partners raised Hess to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company raised Hess from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Citigroup increased their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, UBS Group upped their price objective 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.