Premier Path Wealth Partners LLC Buys 125 Shares of Hess Co. (NYSE:HES)

Premier Path Wealth Partners LLC increased its position in Hess Co. (NYSE:HES) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,493 shares of the oil and gas producer’s stock after acquiring an additional 125 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Hess were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HES. Cassaday & Co Wealth Management LLC lifted its position in shares of Hess by 2.4% during the third quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after purchasing an additional 78 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Hess by 6.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,577 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 97 shares in the last quarter. Covestor Ltd boosted its position in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 98 shares during the period. Fidelis Capital Partners LLC grew its stake in Hess by 6.3% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,673 shares of the oil and gas producer’s stock worth $231,000 after acquiring an additional 99 shares in the last quarter. Finally, CVA Family Office LLC increased its position in shares of Hess by 31.1% during the third quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 107 shares during the period. Institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Shares of HES stock opened at $151.33 on Friday. Hess Co. has a 12-month low of $123.79 and a 12-month high of $163.98. The business’s fifty day simple moving average is $140.66 and its 200-day simple moving average is $139.57. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. The company has a market cap of $46.63 billion, a PE ratio of 17.64 and a beta of 1.18.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Analysts expect that Hess Co. will post 9.51 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio is presently 23.31%.

Insider Buying and Selling at Hess

In related news, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total value of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares in the company, valued at $33,914,927. This represents a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HES. UBS Group boosted their price target on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Susquehanna increased their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Monday, September 30th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, StockNews.com began coverage on shares of Hess in a report on Monday, January 13th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average target price of $170.50.

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.