Sherbrooke Park Advisers LLC Makes New Investment in Hess Co. (NYSE:HES)

Sherbrooke Park Advisers LLC acquired a new position in Hess Co. (NYSE:HES) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,100 shares of the oil and gas producer’s stock, valued at approximately $944,000.

A number of other hedge funds have also made changes to their positions in the business. J.Safra Asset Management Corp purchased a new stake in shares of Hess in the fourth quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Hess in the 4th quarter worth approximately $27,000. Millstone Evans Group LLC purchased a new position in Hess in the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC acquired a new stake in Hess in the fourth quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Hess by 225.6% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Activity

In other news, CEO John B. Hess sold 175,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total value of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HES shares. Susquehanna decreased their target price on shares of Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Mizuho decreased their price objective on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group lowered their target price on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Scotiabank cut their price target on Hess from $164.00 to $146.58 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler reduced their price target on Hess from $151.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.16.

Hess Stock Up 0.1%

HES stock opened at $134.97 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a fifty day moving average price of $139.44 and a two-hundred day moving average price of $141.33. Hess Co. has a 1-year low of $123.79 and a 1-year high of $161.69. The firm has a market cap of $41.75 billion, a price-to-earnings ratio of 15.00 and a beta of 0.61.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same period last year, the business earned $3.16 EPS. Research analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. Hess’s payout ratio is currently 27.66%.

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.