Recurrent Investment Advisors LLC Buys Shares of 13,174 Hess Co. (NYSE:HES)

Recurrent Investment Advisors LLC purchased a new position in Hess Co. (NYSE:HES) during the fourth quarter, Holdings Channel reports. The fund purchased 13,174 shares of the oil and gas producer’s stock, valued at approximately $1,752,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in Hess by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,246 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 305 shares in the last quarter. Czech National Bank raised its holdings in shares of Hess by 6.4% during the 4th quarter. Czech National Bank now owns 59,927 shares of the oil and gas producer’s stock valued at $7,971,000 after buying an additional 3,625 shares in the last quarter. Wedmont Private Capital lifted its position in Hess by 6.0% in the 4th quarter. Wedmont Private Capital now owns 3,906 shares of the oil and gas producer’s stock worth $556,000 after buying an additional 222 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Hess by 7.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,692 shares of the oil and gas producer’s stock worth $358,000 after buying an additional 192 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its position in Hess by 27.5% during the fourth quarter. FNY Investment Advisers LLC now owns 1,690 shares of the oil and gas producer’s stock valued at $224,000 after acquiring an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

Hess stock opened at $134.42 on Thursday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $161.69. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of 14.94 and a beta of 0.61. The stock’s 50 day simple moving average is $139.71 and its two-hundred day simple moving average is $141.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Hess had a return on equity of 26.32% and a net margin of 21.27%. Hess’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. As a group, analysts expect that Hess Co. will post 8.08 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. Hess’s dividend payout ratio is presently 27.66%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Hess from $151.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group reduced their price objective on Hess from $170.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Susquehanna decreased their price objective on Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Scotiabank dropped their target price on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a report on Friday, April 11th. Finally, StockNews.com initiated coverage on Hess in a research report on Tuesday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.16.

Insider Buying and Selling

In other Hess news, CEO John B. Hess sold 175,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $159.30, for a total transaction of $27,877,500.00. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.10% of the stock is owned by company insiders.

Hess 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.