Single Point Partners LLC bought a new position in shares of Hess Co. (NYSE:HES – Get Rating ) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,475 shares of the oil and gas producer’s stock, valued at approximately $209,000.
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Other institutional investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its holdings in shares of Hess by 1.7% in the third quarter. Metis Global Partners LLC now owns 4,176 shares of the oil and gas producer’s stock valued at $454,000 after buying an additional 69 shares during the period. Brinker Capital Investments LLC boosted its holdings in shares of Hess by 1.5% in the first quarter. Brinker Capital Investments LLC now owns 5,887 shares of the oil and gas producer’s stock valued at $630,000 after buying an additional 86 shares during the period. SouthState Corp boosted its holdings in shares of Hess by 14.5% during the third quarter. SouthState Corp now owns 704 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 89 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Hess by 0.8% in the second quarter. Thrivent Financial for Lutherans now owns 11,756 shares of the oil and gas producer’s stock valued at $1,245,000 after buying an additional 98 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in shares of Hess by 4.2% in the third quarter. Miracle Mile Advisors LLC now owns 2,605 shares of the oil and gas producer’s stock valued at $284,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s shares.
Promote and demote an analyst
HES has been the subject of several reports by researchers. Bank of America boosted their price objective on Hess from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Raymond James cut their target price on Hess from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. Susquehanna boosted their target price on Hess from $179.00 to $185.00 in a research report on Thursday, January 26th. Morgan Stanley boosted their target price on Hess from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, January 19th. Finally, The Goldman Sachs Group downgraded Hess from a “buy” rating to a “neutral” rating and upped their target price for the stock from $161.00 to $170.00 in a research report on Friday, January 27th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus target price of $165.00, according to MarketBeat .
Insider buying and selling at Hess
In other Hess news, CFO John P. Rielly sold 3,380 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $137.41, for a total value of $464,445.80. Following the transaction, the chief financial officer now owns 309,841 shares in the company, valued at $42,575,251.81. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available through the SEC’s website. In other news, CFO John P. Rielly sold 3,380 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $137.41, for a total transaction of $464,445.80. Following the completion of the sale, the chief financial officer now owns 309,841 shares in the company, valued at approximately $42,575,251.81. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CEO John B. Hess sold 109,649 shares of the company’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $144.81 for a total value of $15,878,271.69. Following the sale, the chief executive officer now owns 898,752 shares of the company’s stock, valued at approximately $130,148,277.12. Disclosure of this sale can be found here. Insiders have sold 227,720 shares of company stock worth $32,305,936 over the last 90 days. 9.93% of shares are currently owned by corporate insiders.
Hess shares fell 2.0%
NYSE:HES opened at $118.33 on Friday. The business’s fifty day moving average is $141.87 and its 200 day moving average is $135.69. The company has a current ratio of 1.64, a quick ratio of 1.55, and a debt-to-equity ratio of 1.00. Hess Co. has a 1-year low of $90.34 and a 1-year high of $160.52. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of 16.46 and a beta of 1.55.
Hess (NYSE:HES – Get Rating ) last posted its earnings results on Wednesday, January 25th. The oil and gas producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.09. Hess had a return on equity of 27.97% and a net margin of 19.21%. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.83 billion. In the same quarter last year, the company posted earnings of $0.85 per share. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. On average, sell-side analysts predict that Hess Co. will post 6.96 earnings per share for the current fiscal year.
Hess increases dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Monday, March 13th will be given a $0.438 dividend. The ex-dividend date is Friday, March 10th. This represents an annualized dividend of $1.75 and a yield of 1.48%. This is an increase from Hess’s previous quarterly dividend of $0.38. Hess’s payout ratio is 24.34%.
Hess Company Profile
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Hess Corp is an exploration and production company engaged in the exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids and natural gas with production operations. It operates in the following segments: Exploration and Production and Midstream.
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