Signaturefd LLC Increases Stake in Hess Co. (NYSE:HES)

Signaturefd LLC raised its position in Hess Co. (NYSE:HES) by 14.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,196 shares of the oil and gas producer’s stock after purchasing an additional 403 shares during the period. Signaturefd LLC’s holdings in Hess were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in shares of Hess in the 3rd quarter worth $26,000. Sound Income Strategies LLC acquired a new stake in shares of Hess in the 4th quarter worth $29,000. Larson Financial Group LLC acquired a new stake in shares of Hess in the 3rd quarter worth $30,000. Orion Capital Management LLC acquired a new stake in shares of Hess in the 3rd quarter worth $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Hess in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HES. Mizuho raised their price objective on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. StockNews.com began coverage on Hess in a research report on Thursday. They set a “sell” rating for the company. Piper Sandler raised their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Susquehanna raised their price objective on Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $177.42.

Insider Activity

In other news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the sale, the senior vice president now owns 50,215 shares in the company, valued at $7,257,071.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the business’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 value of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is currently owned by company insiders.

Hess Stock Performance

Shares of Hess stock opened at $159.13 on Thursday. The business has a 50-day moving average of $150.82 and a 200 day moving average of $147.10. 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 stock has a market capitalization of $49.03 billion, a price-to-earnings ratio of 35.36 and a beta of 1.27. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75.

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

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is presently 38.89%.

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.