Point72 Europe London LLP Buys 107,804 Shares of Hess Co. (NYSE:HES)

Point72 Europe London LLP lifted its stake in Hess Co. (NYSE:HES - Free Report) by 481.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,204 shares of the oil and gas producer's stock after acquiring an additional 107,804 shares during the period. Hess makes up about 1.0% of Point72 Europe London LLP's holdings, making the stock its 29th largest holding. Point72 Europe London LLP's holdings in Hess were worth $17,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of HES. J.Safra Asset Management Corp bought a new position in Hess during the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Hess during the fourth quarter valued at approximately $27,000. Millstone Evans Group LLC bought a new stake in Hess during the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC purchased a new stake in Hess during the 4th quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. raised its stake in Hess by 225.6% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 203 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Price Performance

Shares of HES opened at $134.42 on Thursday. Hess Co. has a one year low of $123.79 and a one year high of $161.69. The firm has a market capitalization of $41.58 billion, a price-to-earnings ratio of 14.94 and a beta of 0.61. The stock's fifty day moving average is $139.71 and its 200-day moving average is $141.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES - Get Free Report) last announced 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). The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The company's revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.16 earnings per share. Equities analysts anticipate that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. Hess's dividend payout ratio (DPR) is presently 27.66%.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 175,000 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the transaction, the chief executive officer now owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.10% of the company's stock.

Wall Street Analysts Forecast Growth

HES has been the topic of a number of research reports. UBS Group cut their target price on shares of Hess from $170.00 to $163.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler lowered their price target on shares of Hess from $151.00 to $147.00 and set an "overweight" rating on the stock in a report on Tuesday. Susquehanna reduced their price target on shares of Hess from $160.00 to $136.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Mizuho cut their price target on Hess from $193.00 to $191.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, StockNews.com initiated coverage on shares of Hess in a report on Tuesday. They issued a "hold" rating for the company. Six investment 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.16.

Hess Company 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.

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