Focus Partners Wealth Grows Stock Position in Hess Co. (NYSE:HES)

Focus Partners Wealth lifted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 137.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,593 shares of the oil and gas producer's stock after purchasing an additional 6,707 shares during the quarter. Focus Partners Wealth's holdings in Hess were worth $1,542,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HES. Vanguard Group Inc. boosted its position in Hess by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,141,244 shares of the oil and gas producer's stock valued at $4,408,117,000 after buying an additional 296,406 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Hess by 6.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 11,438,985 shares of the oil and gas producer's stock valued at $1,521,499,000 after purchasing an additional 698,866 shares during the last quarter. HBK Investments L P boosted its holdings in Hess by 1.7% in the fourth quarter. HBK Investments L P now owns 7,237,911 shares of the oil and gas producer's stock worth $962,715,000 after acquiring an additional 120,091 shares in the last quarter. Geode Capital Management LLC grew its position in Hess by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,695,533 shares of the oil and gas producer's stock valued at $888,240,000 after purchasing an additional 158,371 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Hess by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 3,844,257 shares of the oil and gas producer's stock valued at $511,325,000 after acquiring an additional 91,131 shares in the last quarter. Institutional investors own 88.51% of the company's stock.

Hess Price Performance

Shares of HES stock traded down $0.78 during mid-day trading on Tuesday, hitting $132.01. 1,603,250 shares of the stock were exchanged, compared to its average volume of 1,803,551. Hess Co. has a 52-week low of $123.79 and a 52-week high of $161.69. 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 has a market cap of $40.83 billion, a PE ratio of 14.67 and a beta of 0.61. The firm has a fifty day moving average of $139.03 and a 200 day moving average of $141.40.

Hess (NYSE:HES - Get Free Report) last posted its quarterly 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). Hess had a net margin of 21.27% and a return on equity of 26.32%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business posted $3.16 EPS. Hess's revenue for the quarter was down 12.1% compared to the same quarter last year. Research analysts anticipate that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. Hess's dividend payout ratio is presently 27.66%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Susquehanna dropped their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. StockNews.com assumed coverage on shares of Hess in a report on Tuesday, May 13th. They issued a "hold" rating on the stock. Scotiabank decreased their price target on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler reduced their price objective 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 stock. Based on data from MarketBeat, Hess has a consensus rating of "Moderate Buy" and a consensus target price of $162.16.

Insider Activity

In other Hess 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 value of $27,877,500.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.10% of the company's stock.

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.