Hess Co. (NYSE:HES) Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hess Co. (NYSE:HES - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,977 shares of the oil and gas producer's stock after purchasing an additional 8,439 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Hess were worth $18,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC grew its stake in Hess by 38.2% during the 4th quarter. SVB Wealth LLC now owns 4,165 shares of the oil and gas producer's stock valued at $601,000 after acquiring an additional 1,151 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Hess by 85.3% in the 4th quarter. Mackenzie Financial Corp now owns 25,195 shares of the oil and gas producer's stock valued at $3,632,000 after buying an additional 11,599 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Hess in the 4th quarter worth approximately $967,000. Capital Advisors Inc. OK lifted its holdings in shares of Hess by 60.4% in the 4th quarter. Capital Advisors Inc. OK now owns 2,540 shares of the oil and gas producer's stock worth $366,000 after acquiring an additional 956 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Hess in the 4th quarter worth approximately $2,407,000. Institutional investors and hedge funds own 88.51% of the company's stock.

Insider Activity

In related news, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the transaction, the senior vice president now directly owns 50,215 shares of the company's stock, valued at approximately $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the transaction, the senior vice president now directly owns 50,215 shares of the company's stock, valued at approximately $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John B. Hess sold 73,885 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly 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 three months, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by corporate insiders.

Hess Stock Up 1.7 %

Shares of HES traded up $2.57 during midday trading on Friday, reaching $154.35. The stock had a trading volume of 2,550,854 shares, compared to its average volume of 2,590,599. Hess Co. has a 1-year low of $124.27 and a 1-year high of $167.75. The company's fifty day simple moving average is $149.96 and its two-hundred day simple moving average is $146.83. The company has a market cap of $47.56 billion, a price-to-earnings ratio of 34.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, beating 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 business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $1.78 EPS. The company's revenue was down .6% on a year-over-year basis. Equities research analysts expect that Hess Co. will post 8.09 earnings per share for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.13%. Hess's payout ratio is 38.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HES shares. Mizuho upped their price objective on shares of Hess from $200.00 to $205.00 and gave the stock a "neutral" rating in a report on Wednesday, March 20th. Susquehanna upped their price objective on shares of Hess from $152.00 to $156.00 and gave the stock a "neutral" rating in a report on Monday, March 4th. StockNews.com started coverage on shares of Hess in a report on Wednesday. They issued a "sell" rating on the stock. Finally, Piper Sandler upped their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $176.75.

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.