Concentric Capital Strategies LP Invests $7.02 Million in Hess Co. (NYSE:HES)

Concentric Capital Strategies LP acquired a new stake in Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,765 shares of the oil and gas producer's stock, valued at approximately $7,018,000.

Other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC increased its position in Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer's stock valued at $287,000 after purchasing an additional 72 shares during the period. Avantax Advisory Services Inc. increased its holdings in Hess by 1.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer's stock valued at $528,000 after buying an additional 73 shares during the period. Moss Adams Wealth Advisors LLC raised its stake in Hess by 5.3% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer's stock worth $224,000 after buying an additional 85 shares in the last quarter. Howard Capital Management Inc. lifted its holdings in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer's stock worth $241,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Hess by 18.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer's stock valued at $84,000 after acquiring an additional 96 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at approximately $379,879,364.70. The trade was a 6.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HES shares. Susquehanna dropped their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank dropped their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. UBS Group decreased their price objective on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, StockNews.com began coverage on shares of Hess in a research report on Monday. They set a "hold" rating on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Hess has an average rating of "Hold" and an average target price of $164.46.

Hess Stock Performance

Shares of HES stock traded up $1.18 during midday trading on Friday, hitting $132.06. The company had a trading volume of 962,118 shares, compared to its average volume of 1,819,733. Hess Co. has a 52-week low of $123.79 and a 52-week high of $161.69. 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's 50 day simple moving average is $140.25 and its 200 day simple moving average is $141.41. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 14.67 and a beta of 0.61.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. Hess's revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. Research analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Monday, March 17th. Hess's dividend payout ratio (DPR) is presently 27.66%.

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.