Hess Co. (NYSE:HES) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in shares of Hess Co. (NYSE:HES - Free Report) by 164.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 769,042 shares of the oil and gas producer's stock after purchasing an additional 477,796 shares during the quarter. Point72 Asset Management L.P. owned 0.25% of Hess worth $102,290,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in Hess during the 4th quarter valued at approximately $3,117,000. Manning & Napier Advisors LLC acquired a new stake in Hess during the 4th quarter valued at approximately $2,274,000. Czech National Bank grew its stake in Hess by 6.4% during the 4th quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer's stock valued at $7,971,000 after purchasing an additional 3,625 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hess by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,838,079 shares of the oil and gas producer's stock valued at $244,483,000 after purchasing an additional 82,703 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Hess by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 43,085 shares of the oil and gas producer's stock valued at $5,731,000 after purchasing an additional 1,861 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company's stock.

Insider Activity at Hess

In other news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HES. StockNews.com started coverage on Hess in a research note on Tuesday, May 13th. They set a "hold" rating for the company. 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. 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. Susquehanna reduced their target price on Hess from $160.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Hess currently has an average rating of "Moderate Buy" and an average price target of $162.16.

Hess Stock Performance

Shares of NYSE HES traded down $2.10 during mid-day trading on Monday, hitting $132.83. The company had a trading volume of 1,768,658 shares, compared to its average volume of 1,804,349. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of 14.76 and a beta of 0.61. Hess Co. has a 12 month low of $123.79 and a 12 month high of $161.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The firm's 50 day simple moving average is $139.25 and its two-hundred day simple moving average is $141.43.

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

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, June 16th. Hess's dividend payout ratio is currently 27.66%.

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.