Alpine Global Management LLC Takes Position in Hess Co. (NYSE:HES)

Alpine Global Management LLC bought a new position in shares of Hess Co. (NYSE:HES - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the oil and gas producer's stock, valued at approximately $1,330,000.

Other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in shares of Hess during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter worth $27,000. Millstone Evans Group LLC bought a new position in Hess in the fourth quarter valued at $33,000. Rialto Wealth Management LLC purchased a new stake in Hess in the fourth quarter worth approximately $37,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 203 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Hess Price Performance

NYSE HES traded down $0.34 during trading hours on Wednesday, reaching $132.24. The company's stock had a trading volume of 1,065,688 shares, compared to its average volume of 1,794,772. Hess Co. has a 1 year low of $123.79 and a 1 year high of $161.69. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $40.90 billion, a price-to-earnings ratio of 14.69 and a beta of 0.61. The firm's 50-day moving average price is $136.60 and its 200-day moving average price is $140.98.

Hess (NYSE:HES - Get Free Report) last issued its earnings results 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. Hess's revenue was down 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.16 EPS. On average, equities research analysts predict that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. Hess's dividend payout ratio (DPR) is presently 27.66%.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value 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 represents a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HES. Scotiabank decreased their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Mizuho decreased their price objective on shares of Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Susquehanna reduced their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lowered their price target on Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, UBS Group cut their price objective on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.16.

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.