13,250 Shares in Hess Co. (NYSE:HES) Bought by Castleark Management LLC

Castleark Management LLC purchased a new stake in Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,250 shares of the oil and gas producer's stock, valued at approximately $1,762,000.

A number of other institutional investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC purchased a new position in Hess during the 4th quarter worth approximately $3,117,000. Manning & Napier Advisors LLC acquired a new stake in Hess during the 4th quarter worth $2,274,000. Charles Schwab Investment Management Inc. boosted its stake in Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock worth $244,483,000 after purchasing an additional 82,703 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after acquiring an additional 1,861 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Hess by 14.7% during the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock valued at $44,300,000 after acquiring an additional 42,797 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Stock Up 1.0%

HES traded up $1.32 on Friday, reaching $131.34. The company's stock had a trading volume of 1,793,638 shares, compared to its average volume of 1,792,098. The stock has a 50 day moving average of $137.60 and a two-hundred day moving average of $141.14. 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 $40.62 billion, a price-to-earnings ratio of 14.59 and a beta of 0.61. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $161.69.

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

Hess Announces Dividend

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, June 16th. Hess's payout ratio is currently 27.66%.

Insider Activity

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen assumed coverage on shares of Hess in a research note on Wednesday. They set a "hold" rating on the stock. UBS Group cut their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Scotiabank cut 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. Finally, Susquehanna cut their target price on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hess currently has a consensus rating of "Moderate Buy" and an average target price of $162.16.

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.