OMERS ADMINISTRATION Corp Grows Stake in Hess Co. (NYSE:HES)

OMERS ADMINISTRATION Corp boosted its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,050 shares of the oil and gas producer's stock after purchasing an additional 1,982 shares during the period. OMERS ADMINISTRATION Corp owned about 0.24% of Hess worth $97,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HES. Principal Financial Group Inc. increased its holdings in Hess by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 326,921 shares of the oil and gas producer's stock valued at $44,396,000 after purchasing an additional 10,738 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Hess by 5.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,246 shares of the oil and gas producer's stock valued at $848,000 after purchasing an additional 305 shares during the period. Graypoint LLC increased its holdings in Hess by 21.6% during the 4th quarter. Graypoint LLC now owns 2,368 shares of the oil and gas producer's stock valued at $315,000 after purchasing an additional 420 shares during the period. Czech National Bank grew its holdings in shares of Hess by 6.4% during the 4th quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer's stock worth $7,971,000 after acquiring an additional 3,625 shares during the period. Finally, Wedmont Private Capital grew its holdings in shares of Hess by 6.0% during the 4th quarter. Wedmont Private Capital now owns 3,906 shares of the oil and gas producer's stock worth $556,000 after acquiring an additional 222 shares during the period. Hedge funds and other institutional investors own 88.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HES. StockNews.com began coverage on Hess in a report on Tuesday, May 13th. They set a "hold" rating on the stock. UBS Group reduced their target price on Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho reduced their target price on Hess from $193.00 to $191.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank reduced their target price on Hess from $164.00 to $146.58 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Hess presently has a consensus rating of "Moderate Buy" and an average target price of $162.16.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 175,000 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at $379,879,364.70. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.10% of the company's stock.

Hess Stock Down 0.2%

Shares of Hess stock traded down $0.21 during midday trading on Friday, hitting $134.86. The company had a trading volume of 1,688,439 shares, compared to its average volume of 1,804,484. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $41.71 billion, a P/E ratio of 14.98 and a beta of 0.61. The company has a 50 day moving average of $139.25 and a 200 day moving average of $141.38. Hess Co. has a 52-week low of $123.79 and a 52-week high of $161.69.

Hess (NYSE:HES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a net margin of 21.27% and a return on equity of 26.32%. The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the business posted $3.16 earnings per share. The business's revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities analysts predict that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 1.48%. Hess's dividend payout ratio is 27.66%.

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.