Fort Baker Capital Management LP Acquires New Shares in Hess Co. (NYSE:HES)

Fort Baker Capital Management LP bought a new stake in Hess Co. (NYSE:HES) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 119,257 shares of the oil and gas producer’s stock, valued at approximately $15,862,000. Hess accounts for about 2.6% of Fort Baker Capital Management LP’s portfolio, making the stock its 14th largest position.

Several other large investors also recently modified their holdings of the business. Checchi Capital Advisers LLC boosted its stake in Hess by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after purchasing an additional 72 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Hess by 1.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 73 shares during the period. Moss Adams Wealth Advisors LLC grew its holdings in shares of Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 85 shares in the last quarter. Howard Capital Management Inc. raised its position in Hess by 5.2% in the 4th quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after buying an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Hess by 18.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 96 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Hess Trading Up 0.9 %

Shares of NYSE:HES opened at $132.06 on Friday. Hess Co. has a 52-week low of $123.79 and a 52-week high of $161.69. 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 company has a market capitalization of $40.85 billion, a P/E ratio of 14.67 and a beta of 0.61. The company has a 50-day simple moving average of $140.25 and a 200 day simple moving average of $141.41.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Hess had a net margin of 21.27% and a return on equity of 26.32%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.16 earnings per share. Sell-side analysts forecast that Hess Co. will post 8.08 earnings per share for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.50 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. Hess’s dividend payout ratio is currently 27.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research note on Friday, April 11th. UBS Group decreased their target price on shares of Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. StockNews.com assumed coverage on shares of Hess in a research report on Monday, May 5th. They set a “hold” rating on the stock. Finally, Susquehanna decreased 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and a consensus target price of $164.46.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,384,679 shares of the company’s stock, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

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.