Tidal Investments LLC increased its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,410 shares of the oil and gas producer's stock after purchasing an additional 2,580 shares during the quarter. Tidal Investments LLC's holdings in Hess were worth $2,981,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. J.Safra Asset Management Corp purchased a new position in Hess during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in Hess during the 4th quarter valued at about $27,000. Millstone Evans Group LLC purchased a new position in Hess during the 4th quarter valued at about $33,000. Rialto Wealth Management LLC purchased a new position in Hess during the 4th quarter valued at about $37,000. Finally, Zions Bancorporation N.A. boosted its holdings in 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 acquiring an additional 203 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently commented on HES. Piper Sandler lowered their target price on Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. UBS Group lowered their target price on Hess from $170.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wall Street Zen began coverage on Hess in a report on Wednesday. They set a "hold" rating for the company. Susquehanna lowered their target price on Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Scotiabank lowered their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.16.
View Our Latest Stock Report on Hess
Insider Buying and Selling
In other Hess news, CEO John B. Hess sold 175,000 shares of Hess 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 transaction, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. The trade was a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.10% of the stock is owned by company insiders.
Hess Stock Up 1.0%
HES stock traded up $1.32 during trading on Friday, hitting $131.34. 1,793,638 shares of the company's stock were exchanged, compared to its average volume of 1,792,098. The business has a 50-day moving average price of $137.60 and a two-hundred day moving average price of $141.14. The stock 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 52-week low of $123.79 and a 52-week high of $161.69. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.
Hess (NYSE:HES - Get Free Report) last posted its earnings results 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 business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. Hess's revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 EPS. As a group, equities research analysts expect that Hess Co. will post 8.08 EPS for the current year.
Hess Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, June 16th. Hess's payout ratio is 27.66%.
About Hess
(
Free Report)
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.
Featured Articles
Before you consider Hess, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hess wasn't on the list.
While Hess currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
