Hess Co. (NYSE:HES) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Hess Co. (NYSE:HES - Free Report) by 85.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,195 shares of the oil and gas producer's stock after purchasing an additional 11,599 shares during the quarter. Mackenzie Financial Corp's holdings in Hess were worth $3,632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Hess in the 3rd quarter valued at approximately $26,000. Sound Income Strategies LLC purchased a new stake in shares of Hess in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC purchased a new stake in shares of Hess in the third quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Hess in the third quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Hess in the fourth quarter valued at approximately $45,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Susquehanna lifted their price target on Hess from $156.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday. Mizuho lifted their price target on Hess from $200.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, March 20th. StockNews.com assumed coverage on Hess in a research note on Wednesday, April 17th. They issued a "sell" rating on the stock. Finally, Piper Sandler lifted their price target on Hess from $172.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Hess has an average rating of "Hold" and a consensus price target of $177.42.

Hess Price Performance

HES stock traded up $1.88 during midday trading on Monday, hitting $156.23. 1,806,202 shares of the stock were exchanged, compared to its average volume of 2,580,471. The stock's 50-day moving average price is $150.21 and its 200-day moving average price is $146.93. The stock has a market cap of $48.13 billion, a price-to-earnings ratio of 34.72 and a beta of 1.27. Hess Co. has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. Hess's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Research analysts predict that Hess Co. will post 8.32 earnings per share for the current year.

Hess Announces Dividend

The business also recently declared 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 1.12%. Hess's dividend payout ratio (DPR) is 38.89%.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the business's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now directly owns 33,581 shares of the company's stock, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Geurt G. Schoonman sold 13,921 shares of the business's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now directly owns 33,581 shares of the company's stock, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John B. Hess sold 73,885 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly owns 138,718 shares of the company's stock, valued at $20,234,794.66. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock valued at $22,811,166 over the last three months. 9.76% of the stock is currently owned by insiders.

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.