Outfitter Financial LLC Purchases 310 Shares of Hess Co. (NYSE:HES)

Outfitter Financial LLC raised its position in shares of Hess Co. (NYSE:HES) by 3.3% 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 owned 9,750 shares of the oil and gas producer’s stock after purchasing an additional 310 shares during the period. Outfitter Financial LLC’s holdings in Hess were worth $1,406,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in Hess by 581.9% during the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after acquiring an additional 1,998,824 shares in the last quarter. Invesco Ltd. increased its position in Hess by 44.1% during the 3rd quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares in the last quarter. FMR LLC lifted its stake in Hess by 2.4% in the 3rd quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after purchasing an additional 889,122 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Hess by 703.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,007,485 shares of the oil and gas producer’s stock valued at $154,146,000 after buying an additional 882,045 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Hess by 19.9% during the third quarter. Morgan Stanley now owns 2,951,451 shares of the oil and gas producer’s stock worth $451,572,000 after buying an additional 489,169 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Trading Down 0.1 %

Hess stock traded down $0.14 during trading hours on Friday, reaching $159.81. 437,184 shares of the company’s stock were exchanged, compared to its average volume of 2,616,051. The firm has a market capitalization of $49.24 billion, a PE ratio of 24.49 and a beta of 1.24. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The firm’s 50 day simple moving average is $153.12 and its 200 day simple moving average is $147.07. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. The firm’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. Research analysts predict that Hess Co. will post 9.17 earnings per share for the current year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, March 15th. Hess’s payout ratio is 26.80%.

Insider Buying and Selling at Hess

In other news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $10,777,604.95. Following the sale, the chief executive officer now directly owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HES shares. StockNews.com assumed coverage on Hess in a report on Friday, May 3rd. They set a “sell” rating on the stock. Susquehanna boosted their price target on Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Mizuho lifted their target price on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler upped their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.42.

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.