Picton Mahoney Asset Management Acquires Shares of 210,000 Hess Co. (NYSE:HES)

Picton Mahoney Asset Management acquired a new stake in shares of Hess Co. (NYSE:HES) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 210,000 shares of the oil and gas producer’s stock, valued at approximately $30,274,000. Hess comprises about 0.8% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 7th largest position. Picton Mahoney Asset Management owned 0.07% of Hess as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Hess by 6.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,944 shares of the oil and gas producer’s stock valued at $1,981,000 after acquiring an additional 786 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hess by 8.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,077 shares of the oil and gas producer’s stock valued at $1,695,000 after acquiring an additional 899 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Hess by 3.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,239 shares of the oil and gas producer’s stock valued at $3,403,000 after acquiring an additional 730 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Hess in the 3rd quarter valued at about $231,000. Finally, Independent Advisor Alliance lifted its holdings in shares of Hess by 8.8% in the 3rd quarter. Independent Advisor Alliance now owns 1,836 shares of the oil and gas producer’s stock valued at $281,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on HES shares. StockNews.com started coverage on shares of Hess in a report on Friday. They issued a “sell” rating for the company. Susquehanna increased their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho increased their price objective on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $177.42.

Hess Stock Down 0.6 %

HES traded down $0.92 during trading on Tuesday, hitting $158.48. The stock had a trading volume of 2,463,966 shares, compared to its average volume of 2,652,322. The company has a market capitalization of $48.83 billion, a PE ratio of 24.27 and a beta of 1.24. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 1.23. The stock has a 50 day simple moving average of $152.88 and a two-hundred day simple moving average of $146.99.

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

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend yield of 1.10%. Hess’s payout ratio is currently 26.80%.

Insider Transactions at Hess

In other news, CEO John B. Hess sold 73,885 shares of Hess 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 sale, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO John B. Hess sold 73,885 shares of Hess 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 sale, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction on 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 owns 78,287 shares of the company’s stock, valued at $11,457,302.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,798 shares of company stock worth $22,811,166. Company insiders own 9.76% of the company’s stock.

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.