Lindbrook Capital LLC Buys 196 Shares of Hess Co. (NYSE:HES)

Lindbrook Capital LLC lifted its stake in shares of Hess Co. (NYSE:HES) by 28.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 896 shares of the oil and gas producer’s stock after acquiring an additional 196 shares during the period. Lindbrook Capital LLC’s holdings in Hess were worth $129,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HES. Victory Capital Management Inc. lifted its holdings in shares of Hess by 581.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after acquiring an additional 1,998,824 shares during the last quarter. Invesco Ltd. lifted its stake in Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares during the last quarter. FMR LLC lifted its stake in Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after purchasing an additional 889,122 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Hess by 703.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,007,485 shares of the oil and gas producer’s stock worth $154,146,000 after purchasing an additional 882,045 shares during the last quarter. Finally, Packer & Co Ltd bought a new stake in Hess in the third quarter worth $107,806,000. 88.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Susquehanna boosted their price objective on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com assumed coverage on shares of Hess in a research report on Wednesday, April 17th. They issued a “sell” rating on the stock. Finally, Mizuho boosted their price objective on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.42.

Insider Buying and Selling

In related news, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Timothy B. Goodell sold 2,701 shares of the company’s 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 $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John B. Hess sold 73,885 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares in the company, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. Insiders have sold 155,798 shares of company stock valued at $22,811,166 over the last quarter. Corporate insiders own 9.76% of the company’s stock.

Hess Price Performance

Shares of NYSE HES opened at $156.98 on Wednesday. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The company’s 50-day moving average is $150.49 and its 200 day moving average is $147.01. The stock has a market capitalization of $48.37 billion, a P/E ratio of 34.88 and a beta of 1.27.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Hess’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that Hess Co. will post 8.32 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, March 15th. Hess’s payout ratio is currently 38.89%.

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.