Mach 1 Financial Group LLC Purchases Shares of 5,044 Hess Co. (NYSE:HES)

Mach 1 Financial Group LLC purchased a new stake in Hess Co. (NYSE:HES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,044 shares of the oil and gas producer’s stock, valued at approximately $727,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hess by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock worth $18,737,000 after purchasing an additional 8,439 shares during the period. Arvest Investments Inc. acquired a new stake in shares of Hess in the fourth quarter valued at approximately $1,407,000. Exchange Traded Concepts LLC raised its position in Hess by 1,456.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after purchasing an additional 7,022 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Hess during the fourth quarter valued at approximately $967,000. Finally, Miller Howard Investments Inc. NY raised its position in Hess by 75.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock valued at $5,658,000 after purchasing an additional 16,861 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the 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 transaction, the senior vice president now owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, CEO John B. Hess sold 73,885 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now owns 138,718 shares in the company, valued at $20,234,794.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Geurt G. Schoonman sold 13,921 shares of the 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 transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. 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.

Hess Price Performance

Shares of HES traded down $5.64 during mid-day trading on Tuesday, reaching $157.49. The stock had a trading volume of 1,668,279 shares, compared to its average volume of 2,546,743. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 24.12 and a beta of 1.27. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75. The business has a fifty day moving average of $151.88 and a 200 day moving average of $147.19. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 1.23.

Hess (NYSE:HES) last posted its quarterly 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 analyst estimates of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company’s revenue was up 36.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Equities analysts predict that Hess Co. will post 8.58 EPS for the current year.

Hess Dividend Announcement

The business 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. The ex-dividend date was Friday, March 15th. This represents a $1.75 annualized dividend and a yield of 1.11%. Hess’s payout ratio is 26.80%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Hess in a research note on Thursday, April 25th. They set a “sell” rating on the stock. Mizuho upped their price objective on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Piper Sandler lifted their target price on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Susquehanna lifted their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess 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.