Hess Co. (NYSE:HES) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in Hess Co. (NYSE:HES) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,499 shares of the oil and gas producer’s stock after purchasing an additional 987 shares during the period. Bleakley Financial Group LLC’s holdings in Hess were worth $1,802,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Hess in the 3rd quarter worth approximately $26,000. Larson Financial Group LLC purchased a new position in shares of Hess in the third quarter worth approximately $30,000. KB Financial Partners LLC purchased a new position in shares of Hess in the first quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new position in shares of Hess in the fourth quarter worth approximately $29,000. Finally, Orion Capital Management LLC purchased a new position in shares of Hess in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Transactions at Hess

In other news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 155,798 shares of company stock worth $22,811,166. 9.91% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on HES shares. UBS Group dropped their target price on shares of Hess from $210.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Mizuho lifted their target price on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. StockNews.com started coverage on shares of Hess in a research report on Tuesday. They issued a “sell” rating on the stock. Susquehanna raised their price target on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Piper Sandler raised their price target on shares of Hess from $169.00 to $172.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $176.67.

Hess Price Performance

NYSE HES opened at $158.03 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $48.69 billion, a PE ratio of 35.12 and a beta of 1.27. The company has a 50 day moving average price of $148.82 and a two-hundred day moving average price of $146.81. Hess Co. has a 12-month low of $124.27 and a 12-month high of $167.75.

Hess (NYSE:HES) last posted its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Hess Co. will post 7.97 earnings per share for the current fiscal year.

Hess Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is 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.