Waterfront Wealth Inc. Increases Position in Hess Co. (NYSE:HES)

Waterfront Wealth Inc. grew its stake in Hess Co. (NYSE:HES) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,457 shares of the oil and gas producer’s stock after purchasing an additional 124 shares during the period. Waterfront Wealth Inc.’s holdings in Hess were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in HES. FMR LLC increased its stake in shares of Hess by 2.4% in the 3rd quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after acquiring an additional 889,122 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 purchasing an additional 667,979 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Hess by 4.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,382 shares of the oil and gas producer’s stock valued at $1,191,928,000 after purchasing an additional 303,942 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hess by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 5,728,515 shares of the oil and gas producer’s stock valued at $756,386,000 after buying an additional 93,731 shares during the period. Finally, Invesco Ltd. raised its position in shares of Hess by 44.1% during the 3rd quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after buying an additional 1,105,204 shares during the period. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Up 0.6 %

Shares of NYSE:HES traded up $0.87 during trading hours on Thursday, reaching $151.67. The stock had a trading volume of 72,792 shares, compared to its average volume of 2,578,398. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The firm’s 50 day moving average is $149.60 and its 200-day moving average is $146.76. The stock has a market capitalization of $46.73 billion, a price-to-earnings ratio of 33.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. Hess’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Research analysts predict that Hess Co. will post 8.09 earnings per share for the current fiscal year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, March 15th. Hess’s payout ratio is 38.89%.

Wall Street Analyst Weigh In

HES has been the subject of several recent analyst reports. Mizuho raised their target price 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 began coverage on shares of Hess in a report on Wednesday. They issued a “sell” rating on the stock. Susquehanna increased their target price on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $176.75.

Insider Activity at Hess

In other news, COO Gregory P. Hill sold 56,925 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $146.35, for a total transaction of $8,330,973.75. Following the completion of the sale, the chief operating officer now owns 78,287 shares in the company, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Gregory P. Hill sold 56,925 shares of the 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 transaction, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at approximately $11,457,302.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock valued at $22,811,166 over the last three months. 9.76% of the stock is owned by corporate insiders.

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.