Simplicity Solutions LLC Acquires 956 Shares of Hess Co. (NYSE:HES)

Simplicity Solutions LLC grew its holdings in Hess Co. (NYSE:HES) by 8.3% in the 4th quarter, Holdings Channel reports. The fund owned 12,468 shares of the oil and gas producer’s stock after purchasing an additional 956 shares during the quarter. Simplicity Solutions LLC’s holdings in Hess were worth $1,797,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HES. Raymond James Trust N.A. bought a new stake in shares of Hess in the first quarter worth about $446,000. Blair William & Co. IL boosted its position in shares of Hess by 17.1% during the first quarter. Blair William & Co. IL now owns 4,276 shares of the oil and gas producer’s stock worth $458,000 after buying an additional 625 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Hess by 3.7% during the first quarter. Allianz Asset Management GmbH now owns 114,120 shares of the oil and gas producer’s stock worth $12,216,000 after buying an additional 4,027 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Hess during the first quarter worth about $410,000. Finally, Vanguard Group Inc. grew its holdings in shares of Hess by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock worth $3,310,590,000 after buying an additional 667,979 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Price Performance

NYSE:HES opened at $153.21 on Monday. Hess Co. has a 1-year low of $124.27 and a 1-year high of $167.75. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $149.28 and a 200 day simple moving average of $146.78. The stock has a market capitalization of $47.20 billion, a PE ratio of 34.05 and a beta of 1.27.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping 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 business posted $1.78 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts expect that Hess Co. will post 7.76 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.14%. Hess’s dividend payout ratio (DPR) is 38.89%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HES shares. StockNews.com started coverage on shares of Hess in a report on Tuesday, April 9th. They issued a “sell” rating on the stock. Mizuho lifted 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. Piper Sandler lifted their price objective on shares of Hess from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Susquehanna lifted their price objective on shares of Hess from $152.00 to $156.00 and gave the company a “neutral” rating in a report on Monday, March 4th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $176.67.

Insider Activity

In related news, CEO John B. Hess sold 73,885 shares of the business’s 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 of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO John B. Hess sold 73,885 shares of the business’s 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 of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy B. Goodell sold 2,701 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the completion of the transaction, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,798 shares of company stock valued at $22,811,166. 9.93% of the stock is owned by company insiders.

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.