Interval Partners LP purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,965 shares of the oil and gas producer's stock, valued at approximately $2,523,000.
Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in Hess during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Hess during the 4th quarter valued at $27,000. Millstone Evans Group LLC purchased a new stake in shares of Hess in the 4th quarter worth $33,000. Rialto Wealth Management LLC bought a new position in Hess in the 4th quarter worth $37,000. Finally, Zions Bancorporation N.A. lifted 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 in the last quarter. 88.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
HES has been the topic of several recent research reports. Mizuho decreased their price objective on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a research note on Tuesday. Piper Sandler decreased their target price on shares of Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday. Susquehanna dropped 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. StockNews.com initiated coverage on shares of Hess in a research report on Tuesday. They set a "hold" rating on the stock. Finally, UBS Group dropped their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Six 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.16.
Read Our Latest Report on Hess
Insider Activity at Hess
In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction dated 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.10% of the stock is currently owned by insiders.
Hess Price Performance
NYSE HES traded up $0.18 on Thursday, reaching $134.97. The company had a trading volume of 1,643,714 shares, compared to its average volume of 1,810,920. The stock has a market capitalization of $41.75 billion, a PE ratio of 15.00 and a beta of 0.61. Hess Co. has a 12 month low of $123.79 and a 12 month 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 firm's 50 day moving average price is $139.71 and its 200 day moving average price is $141.35.
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 the consensus estimate of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.16 earnings per share. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities analysts predict that Hess Co. will post 8.08 earnings per share for the current year.
Hess Announces Dividend
The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.48%. Hess's dividend payout ratio is currently 27.66%.
Hess Company Profile
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Free Report)
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.
Further Reading
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