93,992 Shares in Hess Co. (NYSE:HES) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in Hess Co. (NYSE:HES) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 93,992 shares of the oil and gas producer’s stock, valued at approximately $13,550,000.

A number of other institutional investors have also recently bought and sold shares of HES. Raymond James Trust N.A. purchased a new position in Hess in the 1st quarter worth about $446,000. Blair William & Co. IL increased its stake in Hess by 17.1% in the 1st quarter. Blair William & Co. IL now owns 4,276 shares of the oil and gas producer’s stock worth $458,000 after purchasing an additional 625 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Hess by 3.7% in the 1st quarter. Allianz Asset Management GmbH now owns 114,120 shares of the oil and gas producer’s stock worth $12,216,000 after purchasing an additional 4,027 shares in the last quarter. Cetera Investment Advisers purchased a new position in Hess in the 1st quarter worth about $410,000. Finally, Vanguard Group Inc. increased its stake in Hess by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock worth $3,310,590,000 after purchasing an additional 667,979 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Down 0.2 %

Shares of Hess stock opened at $157.64 on Friday. The firm has a market cap of $48.57 billion, a price-to-earnings ratio of 35.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 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. The stock has a 50-day simple moving average of $149.14 and a 200-day simple moving average of $146.89.

Hess (NYSE:HES) last announced its quarterly earnings results 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 analyst estimates of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. On average, equities research analysts expect that Hess Co. will post 7.97 earnings per share for the current fiscal year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 was Friday, March 15th. Hess’s payout ratio is 38.89%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HES. UBS Group dropped their price target on Hess from $210.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Piper Sandler raised their price objective on Hess from $169.00 to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Susquehanna raised their price objective on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. StockNews.com started coverage on Hess in a research report on Tuesday. They set a “sell” rating for the company. Finally, 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. One research 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. According to MarketBeat, Hess has an average rating of “Hold” and a consensus target price of $176.67.

Insider Activity at Hess

In related news, CEO John B. Hess sold 73,885 shares of the firm’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 transaction, the chief executive officer now directly owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hess news, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $146.35, for a total value 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 approximately $11,457,302.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 73,885 shares of Hess 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 completion of the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,798 shares of company stock valued at $22,811,166. Corporate insiders own 9.91% of the company’s stock.

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.