Mackenzie Financial Corp Acquires 11,069 Shares of Hess Co. (NYSE:HES)

Mackenzie Financial Corp lifted its position in shares of Hess Co. (NYSE:HES - Free Report) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,266 shares of the oil and gas producer's stock after purchasing an additional 11,069 shares during the quarter. Mackenzie Financial Corp's holdings in Hess were worth $5,356,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HES. GF Fund Management CO. LTD. purchased a new stake in Hess in the 4th quarter valued at $7,727,000. Alpine Global Management LLC bought a new stake in shares of Hess in the 4th quarter worth $1,330,000. Vise Technologies Inc. bought a new stake in shares of Hess in the 4th quarter worth $207,000. Inspire Trust Co. N.A. bought a new stake in shares of Hess in the 4th quarter worth $1,862,000. Finally, Castleark Management LLC bought a new stake in shares of Hess in the 4th quarter worth $1,762,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 175,000 shares of the 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 transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by insiders.

Hess Price Performance

Shares of Hess stock traded up $1.54 on Monday, reaching $133.73. The stock had a trading volume of 2,329,541 shares, compared to its average volume of 1,793,332. Hess Co. has a 1 year low of $123.79 and a 1 year high of $161.69. The company has a market cap of $41.36 billion, a P/E ratio of 14.86 and a beta of 0.61. 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 business's 50 day moving average is $134.55 and its two-hundred day moving average is $140.67.

Hess (NYSE:HES - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 earnings per share. As a group, research analysts anticipate that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The business 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group reduced 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. Mizuho reduced their price target on shares of Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler reduced their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Susquehanna reduced their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen began coverage on shares of Hess in a research report on Wednesday, May 21st. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.