Tidal Investments LLC Has $2.98 Million Stock Position in Hess Co. (NYSE:HES)

Tidal Investments LLC raised its holdings in Hess Co. (NYSE:HES) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,410 shares of the oil and gas producer’s stock after buying an additional 2,580 shares during the quarter. Tidal Investments LLC’s holdings in Hess were worth $2,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Teza Capital Management LLC increased its holdings in Hess by 47.1% in the 4th quarter. Teza Capital Management LLC now owns 30,478 shares of the oil and gas producer’s stock valued at $4,054,000 after buying an additional 9,758 shares during the period. Twin Securities Inc. increased its holdings in Hess by 3.8% in the 4th quarter. Twin Securities Inc. now owns 99,268 shares of the oil and gas producer’s stock valued at $13,204,000 after buying an additional 3,605 shares during the period. Sand Grove Capital Management LLP increased its holdings in Hess by 2.3% in the 4th quarter. Sand Grove Capital Management LLP now owns 237,074 shares of the oil and gas producer’s stock valued at $31,533,000 after buying an additional 5,241 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Hess by 449.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 9,497 shares of the oil and gas producer’s stock valued at $1,263,000 after purchasing an additional 7,769 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Hess during the fourth quarter valued at approximately $944,000. Institutional investors own 88.51% of the company’s stock.

Analyst Ratings Changes

HES has been the topic of a number of recent research reports. UBS Group decreased their price objective on Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Piper Sandler decreased their price objective on Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Mizuho cut their price objective on Hess from $193.00 to $191.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Susquehanna cut their price objective on Hess from $160.00 to $136.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, StockNews.com assumed coverage on Hess in a report on Wednesday. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Hess currently has an average rating of “Moderate Buy” and an average price target of $162.16.

Insider Transactions at Hess

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 transaction of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.10% of the stock is owned by company insiders.

Hess Price Performance

Shares of HES stock opened at $130.22 on Thursday. The stock’s fifty day moving average is $138.44 and its 200-day moving average is $141.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $40.28 billion, a PE ratio of 14.47 and a beta of 0.61. Hess Co. has a 52 week low of $123.79 and a 52 week high of $161.69.

Hess (NYSE:HES) last announced its earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. Hess’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 EPS. Equities research analysts expect that Hess Co. will post 8.08 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Hess’s payout ratio is 27.66%.

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.