Lindbrook Capital LLC Grows Position in Hess Co. (NYSE:HES)

Lindbrook Capital LLC boosted its stake in shares of Hess Co. (NYSE:HES) by 28.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 896 shares of the oil and gas producer’s stock after purchasing an additional 196 shares during the period. Lindbrook Capital LLC’s holdings in Hess were worth $129,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. abrdn plc grew its position in Hess by 70.0% during the 4th quarter. abrdn plc now owns 118,256 shares of the oil and gas producer’s stock worth $17,048,000 after purchasing an additional 48,686 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Hess in the 4th quarter valued at $105,000. Calamos Advisors LLC boosted its holdings in shares of Hess by 101.0% in the 4th quarter. Calamos Advisors LLC now owns 577,500 shares of the oil and gas producer’s stock valued at $83,252,000 after acquiring an additional 290,245 shares during the last quarter. Waterfront Wealth Inc. boosted its holdings in shares of Hess by 2.9% in the 4th quarter. Waterfront Wealth Inc. now owns 4,457 shares of the oil and gas producer’s stock valued at $642,000 after acquiring an additional 124 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Hess by 110.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 539 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

NYSE:HES opened at $156.98 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The company has a fifty day moving average of $150.49 and a two-hundred day moving average of $147.01. The stock has a market capitalization of $48.37 billion, a PE ratio of 34.88 and a beta of 1.27. Hess Co. has a fifty-two week low of $124.27 and a fifty-two week high of $167.75.

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

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given 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 was Friday, March 15th. Hess’s dividend payout ratio (DPR) is 38.89%.

Insider Activity

In other news, CEO John B. Hess sold 73,885 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John B. Hess sold 73,885 shares of the company’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 completion of the sale, the chief executive officer now directly 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. Insiders sold 155,798 shares of company stock worth $22,811,166 over the last three months. Insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Hess

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.