5,511 Shares in Hess Co. (NYSE:HES) Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC acquired a new position in Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,511 shares of the oil and gas producer's stock, valued at approximately $733,000.

Several other hedge funds have also recently made changes to their positions in HES. Strategic Financial Concepts LLC bought a new position in Hess in the 4th quarter worth $3,117,000. Manning & Napier Advisors LLC purchased a new stake in Hess in the fourth quarter worth about $2,274,000. Charles Schwab Investment Management Inc. boosted its position 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 valued at $244,483,000 after acquiring an additional 82,703 shares in the last quarter. CIBC Asset Management Inc grew its holdings 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 worth $5,731,000 after acquiring an additional 1,861 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Hess by 14.7% in the 4th quarter. American Century Companies Inc. now owns 333,056 shares of the oil and gas producer's stock worth $44,300,000 after acquiring an additional 42,797 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Performance

Shares of NYSE:HES traded down $1.71 during mid-day trading on Wednesday, reaching $130.87. 1,946,320 shares of the company traded hands, compared to its average volume of 1,798,206. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The firm has a market cap of $40.48 billion, a PE ratio of 14.54 and a beta of 0.61. The company's 50 day moving average price is $136.60 and its 200-day moving average price is $140.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the company earned $3.16 earnings per share. The business's revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 1.53%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio (DPR) is currently 27.66%.

Analyst Upgrades and Downgrades

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

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 transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, 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. Company insiders own 9.10% of the company's stock.

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.