Integrated Advisors Network LLC Purchases New Stake in Hess Co. (NYSE:HES)

Integrated Advisors Network LLC purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,392 shares of the oil and gas producer's stock, valued at approximately $382,000.

Other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC bought a new stake in Hess during the fourth quarter worth $302,000. Savant Capital LLC lifted its stake in Hess by 11.6% during the 4th quarter. Savant Capital LLC now owns 4,088 shares of the oil and gas producer's stock valued at $544,000 after acquiring an additional 425 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Hess by 1.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,651 shares of the oil and gas producer's stock worth $3,744,000 after acquiring an additional 463 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Hess by 10.0% in the 4th quarter. Van ECK Associates Corp now owns 23,358 shares of the oil and gas producer's stock worth $3,107,000 after acquiring an additional 2,119 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Hess by 17.2% in the fourth quarter. Avestar Capital LLC now owns 1,829 shares of the oil and gas producer's stock valued at $243,000 after purchasing an additional 269 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Hess from a "sell" rating to a "hold" rating in a research report on Saturday. Scotiabank reduced 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. Piper Sandler decreased their price target on Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Mizuho cut 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 lifted their price objective on shares of Hess from $163.00 to $173.00 and gave the stock a "buy" rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $163.16.

Insider Buying and Selling

In related news, CEO John B. Hess sold 175,000 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were 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 of the company's stock, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 650,000 shares of company stock valued at $91,845,500. Corporate insiders own 9.10% of the company's stock.

Hess Stock Performance

NYSE HES opened at $142.15 on Friday. The firm has a market cap of $43.97 billion, a P/E ratio of 15.79 and a beta of 0.62. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The company's 50 day moving average is $132.51 and its 200-day moving average is $140.12. 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 issued its earnings results 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 net margin of 21.27% and a return on equity of 26.32%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm earned $3.16 EPS. The company's revenue was down 12.1% compared to the same quarter last year. Sell-side analysts predict 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. Investors of record on Monday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. Hess's dividend payout ratio (DPR) is 27.66%.

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.

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