Family Asset Management LLC Invests $1.23 Million in Hess Co. (NYSE:HES)

Family Asset Management LLC purchased a new stake in Hess Co. (NYSE:HES) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,500 shares of the oil and gas producer’s stock, valued at approximately $1,225,000.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hess by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after buying an additional 8,439 shares during the last quarter. Arvest Investments Inc. acquired a new position in Hess in the fourth quarter worth $1,407,000. Exchange Traded Concepts LLC increased its stake in Hess by 1,456.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after purchasing an additional 7,022 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Hess during the fourth quarter worth $967,000. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Hess by 75.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock valued at $5,658,000 after buying an additional 16,861 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Activity

In related news, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $146.35, for a total transaction of $8,330,973.75. Following the transaction, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at $11,457,302.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory P. Hill sold 56,925 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $146.35, for a total value of $8,330,973.75. Following the sale, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at $11,457,302.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is owned by company insiders.

Analyst Ratings Changes

HES has been the topic of a number of recent research reports. Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Mizuho upped their price objective on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com assumed coverage on Hess in a research note on Friday. They issued a “sell” rating on the stock. Finally, Susquehanna boosted their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.42.

Hess Stock Performance

Shares of NYSE HES traded up $0.54 during midday trading on Monday, reaching $159.40. 3,500,940 shares of the company traded hands, compared to its average volume of 2,654,481. The stock has a 50-day moving average price of $152.61 and a 200 day moving average price of $147.02. The company has a market cap of $49.11 billion, a price-to-earnings ratio of 24.41 and a beta of 1.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 0.96. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. Hess’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. Sell-side analysts anticipate that Hess Co. will post 9.17 earnings per share for the current fiscal year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is currently 26.80%.

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.