Headlands Technologies LLC Acquires 1,840 Shares of Hess Co. (NYSE:HES)

Headlands Technologies LLC lifted its holdings in shares of Hess Co. (NYSE:HES) by 3,680.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,890 shares of the oil and gas producer’s stock after purchasing an additional 1,840 shares during the period. Headlands Technologies LLC’s holdings in Hess were worth $272,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hess by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after purchasing an additional 8,439 shares during the last quarter. Arvest Investments Inc. bought a new stake in Hess in the 4th quarter worth $1,407,000. Exchange Traded Concepts LLC grew its holdings in Hess by 1,456.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock worth $1,082,000 after acquiring an additional 7,022 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Hess in the 4th quarter worth $967,000. Finally, Miller Howard Investments Inc. NY grew its holdings in Hess by 75.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock worth $5,658,000 after acquiring an additional 16,861 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Hess Trading Up 0.7 %

Shares of NYSE HES opened at $162.53 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 0.96. The stock has a market cap of $50.08 billion, a P/E ratio of 24.89 and a beta of 1.27. Hess Co. has a 1 year low of $124.27 and a 1 year high of $167.75. The firm has a 50-day moving average of $151.37 and a 200 day moving average of $147.22.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, sell-side analysts expect that Hess Co. will post 8.58 EPS for the current fiscal year.

Hess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. Hess’s dividend payout ratio is presently 26.80%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HES. Piper Sandler raised their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Susquehanna raised their price target on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. StockNews.com began coverage on shares of Hess in a report on Thursday. They issued a “sell” rating on the stock. Finally, Mizuho raised their price target on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.42.

Insider Transactions at Hess

In other news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock worth $22,811,166 over the last three months. 9.76% of the stock is currently owned by company insiders.

About Hess

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.