78,752 Shares in Hess Co. (NYSE:HES) Purchased by Kellner Capital LLC

Kellner Capital LLC acquired a new position in Hess Co. (NYSE:HES - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 78,752 shares of the oil and gas producer's stock, valued at approximately $11,353,000. Hess makes up approximately 20.5% of Kellner Capital LLC's investment portfolio, making the stock its largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of HES. US Asset Management LLC bought a new position in Hess in the 4th quarter worth approximately $601,000. Outfitter Financial LLC raised its holdings in shares of Hess by 3.3% during the 4th quarter. Outfitter Financial LLC now owns 9,750 shares of the oil and gas producer's stock worth $1,406,000 after acquiring an additional 310 shares in the last quarter. SCP Investment LP boosted its position in shares of Hess by 100.0% during the 4th quarter. SCP Investment LP now owns 2,800 shares of the oil and gas producer's stock valued at $398,000 after acquiring an additional 1,400 shares during the last quarter. National Pension Service increased its position in Hess by 1.9% in the fourth quarter. National Pension Service now owns 449,371 shares of the oil and gas producer's stock worth $64,781,000 after purchasing an additional 8,534 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Hess during the fourth quarter valued at $30,274,000. 88.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HES. StockNews.com began coverage on shares of Hess in a research note on Friday, May 3rd. They issued a "sell" rating for the company. Mizuho upped their price objective on Hess from $200.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, March 20th. Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, April 18th. Finally, Susquehanna increased their target price on shares of Hess from $156.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Hess presently has an average rating of "Hold" and a consensus target price of $177.42.

Insider Activity

In related news, SVP Andrew P. Slentz sold 1,062 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the transaction, the senior vice president now directly owns 50,215 shares in the company, valued at approximately $7,257,071.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Andrew P. Slentz sold 1,062 shares of the 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 $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction that occurred 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 sale, the chief executive officer now owns 138,718 shares of the company's stock, valued at $20,234,794.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company's stock.

Hess Stock Up 0.3 %

Shares of HES traded up $0.45 during midday trading on Friday, reaching $160.40. 1,378,004 shares of the stock were exchanged, compared to its average volume of 2,626,669. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $49.42 billion, a P/E ratio of 24.56 and a beta of 1.24. The company's 50 day moving average is $153.41 and its two-hundred day moving average is $147.16.

Hess (NYSE:HES - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm's revenue for the quarter was up 36.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Hess Co. will post 9.17 earnings per share for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, March 15th. Hess's dividend payout ratio is currently 26.80%.

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.