CIBRA Capital Ltd Buys Shares of 107,691 Hess Co. (NYSE:HES)

CIBRA Capital Ltd bought a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 107,691 shares of the oil and gas producer's stock, valued at approximately $14,324,000. Hess comprises 9.8% of CIBRA Capital Ltd's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Hess by 16.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,927 shares of the oil and gas producer's stock worth $921,000 after acquiring an additional 986 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in Hess in the 4th quarter worth about $1,210,000. Aegis Wealth Management LLC purchased a new stake in Hess in the 4th quarter worth about $214,000. Siemens Fonds Invest GmbH lifted its stake in Hess by 449.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 9,497 shares of the oil and gas producer's stock worth $1,263,000 after acquiring an additional 7,769 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hess in the 4th quarter worth about $21,162,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HES shares. Mizuho reduced their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. UBS Group dropped their target price on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler dropped their target price on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Susquehanna dropped their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen initiated coverage on Hess in a research report on Wednesday, May 21st. They issued a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.16.

Hess Stock Down 1.0%

Shares of NYSE HES traded down $1.30 during mid-day trading on Friday, reaching $132.32. 3,570,806 shares of the company traded hands, compared to its average volume of 1,795,133. 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 stock has a market cap of $40.93 billion, a PE ratio of 14.70 and a beta of 0.61. The company's fifty day moving average is $135.61 and its two-hundred day moving average is $140.86. 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 issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS 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 analyst estimates of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business's revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 EPS. On average, analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio is 27.66%.

Insider Activity

In other Hess news, CEO John B. Hess sold 175,000 shares of the firm's 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 sale, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.10% of the stock is currently owned by insiders.

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.