Tidal Investments LLC Has $2.98 Million Stock Holdings in Hess Co. (NYSE:HES)

Tidal Investments LLC raised its position in Hess Co. (NYSE:HES - Free Report) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp bought a new stake in shares of Hess during the 4th quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter worth about $27,000. Millstone Evans Group LLC bought a new stake in shares of Hess during the 4th quarter worth about $33,000. Rialto Wealth Management LLC bought a new stake in shares of Hess during the 4th quarter worth about $37,000. Finally, Zions Bancorporation N.A. boosted its stake 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 worth $39,000 after acquiring an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Price Performance

NYSE:HES traded down $0.10 during trading hours on Tuesday, reaching $131.26. The company had a trading volume of 394,485 shares, compared to its average volume of 1,929,597. The stock has a 50-day moving average of $137.10 and a two-hundred day moving average of $141.04. Hess Co. has a one year low of $123.79 and a one year high of $161.69. The firm has a market capitalization of $40.60 billion, a PE ratio of 14.59 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS 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 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 for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 EPS. Analysts forecast that Hess Co. will post 8.08 earnings per share for the current 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 dividend of $0.50 per share. 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 presently 27.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. UBS Group cut their price target 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, May 21st. They set a "hold" rating for the company. Susquehanna lowered their price objective 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, Mizuho lowered 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. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.16.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.10% of the company's stock.

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.