BOK Financial Private Wealth Inc. Makes New $967,000 Investment in Hess Co. (NYSE:HES)

BOK Financial Private Wealth Inc. purchased a new stake in shares of Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,710 shares of the oil and gas producer's stock, valued at approximately $967,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Hess during the third quarter valued at $26,000. Larson Financial Group LLC purchased a new stake in shares of Hess during the third quarter worth $30,000. KB Financial Partners LLC acquired a new position in Hess in the first quarter worth approximately $26,000. Sound Income Strategies LLC acquired a new position in Hess during the fourth quarter worth $29,000. Finally, Orion Capital Management LLC bought a new position in shares of Hess in the 3rd quarter valued at approximately $33,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Hess Stock Performance

HES traded down $1.55 during trading on Monday, hitting $151.66. The stock had a trading volume of 1,717,651 shares, compared to its average volume of 2,650,280. Hess Co. has a one year low of $124.27 and a one year high of $167.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The firm has a market cap of $46.73 billion, a price-to-earnings ratio of 33.89 and a beta of 1.27. The company has a 50 day moving average price of $149.28 and a 200-day moving average price of $146.78.

Hess (NYSE:HES - Get Free Report) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business's revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that Hess Co. will post 7.76 EPS for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.15%. Hess's payout ratio is 38.89%.

Insider Activity

In related news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares of the company's stock, valued at $23,433,050.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Timothy B. Goodell sold 2,701 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the completion of the transaction, the executive vice president now owns 162,144 shares in the company, valued at approximately $23,433,050.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John B. Hess sold 73,885 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Susquehanna upped their price objective on shares of Hess from $152.00 to $156.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. Mizuho increased their price objective on shares of Hess from $200.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, March 20th. StockNews.com began coverage on shares of Hess in a research report on Tuesday, April 9th. They set a "sell" rating on the stock. Finally, Piper Sandler upped their price objective on Hess from $169.00 to $172.00 and gave the company an "overweight" rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $176.67.

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.