Inspire Trust Co. N.A. Buys New Stake in Hess Co. (NYSE:HES)

Inspire Trust Co. N.A. purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,000 shares of the oil and gas producer's stock, valued at approximately $1,862,000.

A number of other hedge funds also recently bought and sold shares of HES. J.Safra Asset Management Corp bought a new stake in shares of Hess in the 4th quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Hess in the fourth quarter worth about $27,000. Millstone Evans Group LLC bought a new stake in Hess during the fourth quarter worth approximately $33,000. Rialto Wealth Management LLC purchased a new stake in Hess during the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. raised its position in Hess by 225.6% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Hess Stock Down 1.4%

Shares of HES opened at $130.22 on Thursday. The firm has a fifty day moving average price of $138.44 and a 200-day moving average price of $141.26. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $40.28 billion, a P/E ratio of 14.47 and a beta of 0.61. Hess Co. has a 12-month low of $123.79 and a 12-month high of $161.69.

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 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 the consensus estimate of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The company's quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.16 EPS. Equities research analysts expect that Hess Co. will post 8.08 earnings per share for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Hess's payout ratio is 27.66%.

Insider Activity at Hess

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HES shares. UBS Group cut 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. Mizuho dropped their price objective on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Susquehanna cut their price objective on shares of Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank lowered their target price on shares of Hess from $164.00 to $146.58 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, Piper Sandler dropped their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research note 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 company. According to MarketBeat, Hess currently has an average rating of "Moderate Buy" and a consensus target price of $162.16.

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.

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