Wolverine Asset Management LLC Invests $1.95 Million in Hess Co. (NYSE:HES)

Wolverine Asset Management LLC bought a new position in shares of Hess Co. (NYSE:HES - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,505 shares of the oil and gas producer's stock, valued at approximately $1,947,000.

A number of other institutional investors also recently bought and sold shares of HES. NBC Securities Inc. purchased a new stake in shares of Hess in the 3rd quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new stake in shares of Hess in the 3rd quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Hess in the 4th quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of Hess in the 3rd quarter valued at approximately $33,000. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Hess in the 3rd quarter valued at approximately $46,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HES. Susquehanna lifted their price objective on shares of Hess from $156.00 to $164.00 and gave the company a "neutral" rating in a report on Monday. Mizuho lifted their price objective on shares of Hess from $200.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, March 20th. StockNews.com began coverage on shares of Hess in a report on Thursday. They set a "sell" rating for the company. Finally, Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $177.42.

Hess Stock Performance

HES stock traded up $2.32 on Thursday, hitting $161.45. The company's stock had a trading volume of 2,413,783 shares, compared to its average volume of 2,574,006. The firm has a 50 day moving average of $151.09 and a two-hundred day moving average of $147.20. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The stock has a market cap of $49.74 billion, a price-to-earnings ratio of 35.88 and a beta of 1.27. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88.

Hess (NYSE:HES - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. Hess's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. Equities analysts predict that Hess Co. will post 8.62 EPS for the current fiscal 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 paid a dividend of $0.4375 per share. 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 1.08%. Hess's dividend payout ratio (DPR) is presently 38.89%.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares of the company's stock, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the company's stock in a transaction dated 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 owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. Insiders have sold a total of 155,798 shares of company stock valued at $22,811,166 in the last ninety days. 9.76% of the stock is currently owned by company insiders.

Hess Profile

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.