Moore Capital Management LP Purchases 8,700 Shares of Hess Co. (NYSE:HES)

Moore Capital Management LP raised its position in shares of Hess Co. (NYSE:HES - Free Report) by 65.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,981 shares of the oil and gas producer's stock after purchasing an additional 8,700 shares during the quarter. Moore Capital Management LP's holdings in Hess were worth $2,924,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in shares of Hess during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in shares of Hess during the 4th quarter valued at about $27,000. Millstone Evans Group LLC purchased a new position in shares of Hess during the 4th quarter valued at about $33,000. Rialto Wealth Management LLC purchased a new position in shares of Hess during the 4th quarter valued at about $37,000. Finally, Zions Bancorporation N.A. lifted its position in shares of Hess by 225.6% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 203 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HES shares. Piper Sandler lowered their price target on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday. UBS Group lowered their price target on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Susquehanna lowered their price target on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. StockNews.com started coverage on Hess in a report on Tuesday. They issued a "hold" rating on the stock. Finally, Mizuho lowered their price target on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.16.

Hess Price Performance

NYSE:HES traded down $0.21 during trading hours on Friday, reaching $134.86. The stock had a trading volume of 1,688,439 shares, compared to its average volume of 1,806,380. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69. The company has a 50 day moving average price of $139.44 and a two-hundred day moving average price of $141.33. The stock has a market capitalization of $41.71 billion, a PE ratio of 14.98 and a beta of 0.61.

Hess (NYSE:HES - Get Free Report) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate 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 business'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 firm posted $3.16 EPS. As a group, sell-side analysts anticipate that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

Insider Activity

In other Hess news, CEO John B. Hess sold 175,000 shares of the company'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 transaction, the chief executive officer now owns 2,384,679 shares of the company's stock, valued at $379,879,364.70. This represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.10% of the company's stock.

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.