ACR Alpine Capital Research LLC Makes New Investment in Hess Co. (NYSE:HES)

ACR Alpine Capital Research LLC acquired a new stake in Hess Co. (NYSE:HES) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,273 shares of the oil and gas producer’s stock, valued at approximately $1,048,000. Hess makes up approximately 0.0% of ACR Alpine Capital Research LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in shares of Hess during the third quarter worth $26,000. Larson Financial Group LLC acquired a new stake in Hess during the 3rd quarter worth $30,000. Sound Income Strategies LLC bought a new position in Hess during the fourth quarter worth about $29,000. Orion Capital Management LLC acquired a new position in Hess in the third quarter valued at about $33,000. Finally, Fortis Group Advisors LLC bought a new stake in shares of Hess in the third quarter worth about $46,000. 88.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hess news, COO Gregory P. Hill sold 56,925 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $146.35, for a total transaction of $8,330,973.75. Following the sale, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly 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. Insiders sold 155,798 shares of company stock worth $22,811,166 in the last three months. Corporate insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HES. Mizuho raised their price objective on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Piper Sandler increased their price objective 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. StockNews.com started coverage on shares of Hess in a research report on Friday. They set a “sell” rating on the stock. Finally, Susquehanna upped their target price on Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hess currently has a consensus rating of “Hold” and a consensus target price of $177.42.

Hess Trading Down 0.2 %

Shares of NYSE HES traded down $0.24 during mid-day trading on Tuesday, reaching $159.16. The company had a trading volume of 1,417,182 shares, compared to its average volume of 2,639,839. Hess Co. has a 52 week low of $124.27 and a 52 week high of $167.75. The business’s 50-day moving average is $152.61 and its 200-day moving average is $147.02. The stock has a market cap of $49.04 billion, a price-to-earnings ratio of 24.41 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81.

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

Hess Announces Dividend

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

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.