Hess Co. (NYSE:HES) is Sagefield Capital LP’s 2nd Largest Position

Sagefield Capital LP lifted its position in shares of Hess Co. (NYSE:HES) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 491,782 shares of the oil and gas producer’s stock after purchasing an additional 1,161 shares during the period. Hess accounts for approximately 7.2% of Sagefield Capital LP’s portfolio, making the stock its 2nd largest position. Sagefield Capital LP’s holdings in Hess were worth $65,412,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Miracle Mile Advisors LLC raised its stake in shares of Hess by 7.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,692 shares of the oil and gas producer’s stock worth $358,000 after buying an additional 192 shares during the period. Oak Thistle LLC bought a new stake in shares of Hess in the 4th quarter worth about $492,000. Park Avenue Securities LLC grew its holdings in Hess by 169.5% during the 4th quarter. Park Avenue Securities LLC now owns 8,408 shares of the oil and gas producer’s stock valued at $1,118,000 after purchasing an additional 5,288 shares during the last quarter. Brooklyn Investment Group boosted its position in Hess by 69.2% in the 4th quarter. Brooklyn Investment Group now owns 1,420 shares of the oil and gas producer’s stock valued at $189,000 after buying an additional 581 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its position in Hess by 5.3% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,493 shares of the oil and gas producer’s stock valued at $332,000 after buying an additional 125 shares during the period. 88.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HES. Mizuho decreased their target price on shares of Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a research report on Tuesday. Susquehanna decreased their price objective on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. UBS Group dropped their price objective on shares of Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reduced their price target on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com began coverage on shares of Hess in a report on Tuesday. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess has an average rating of “Moderate Buy” and a consensus target price of $162.16.

Hess Stock Down 0.2%

HES stock opened at $134.86 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $139.25 and a two-hundred day moving average price of $141.34. The company has a market cap of $41.71 billion, a price-to-earnings ratio of 14.98 and a beta of 0.61. Hess Co. has a twelve month low of $123.79 and a twelve month high of $161.69.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion for 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 business’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. Analysts anticipate that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Announces Dividend

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

Insider Buying and Selling at Hess

In related news, CEO John B. Hess sold 175,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction 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 trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.10% 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.