Waterfront Wealth Inc. Has $642,000 Position in Hess Co. (NYSE:HES)

Waterfront Wealth Inc. lifted its stake in Hess Co. (NYSE:HESFree Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,457 shares of the oil and gas producer’s stock after buying an additional 124 shares during the period. Waterfront Wealth Inc.’s holdings in Hess were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Hess during the third quarter worth approximately $26,000. KB Financial Partners LLC bought a new position in Hess in the 1st quarter valued at $26,000. Sound Income Strategies LLC acquired a new position in Hess in the fourth quarter worth $29,000. Larson Financial Group LLC bought a new stake in shares of Hess during the third quarter worth $30,000. Finally, IMA Wealth Inc. acquired a new stake in shares of Hess in the second quarter valued at $30,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Hess Trading Up 0.6 %

NYSE:HES traded up $0.87 during mid-day trading on Thursday, hitting $151.67. The company had a trading volume of 72,792 shares, compared to its average volume of 2,578,398. The firm has a market cap of $46.73 billion, a P/E ratio of 33.66 and a beta of 1.27. Hess Co. has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The business’s fifty day moving average is $149.60 and its two-hundred day moving average is $146.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05.

Hess (NYSE:HESGet Free Report) last issued its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 earnings per share. As a group, research analysts expect that Hess Co. will post 8.09 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 annualized dividend and a yield of 1.15%. Hess’s dividend payout ratio is presently 38.89%.

Wall Street Analyst Weigh In

HES has been the topic of several research reports. Susquehanna upped their price target on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Mizuho increased their price target 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. StockNews.com started coverage on shares of Hess in a report on Wednesday. They issued a “sell” rating for the company. Finally, Piper Sandler upped their price objective on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hess has an average rating of “Hold” and an average target price of $176.75.

Check Out Our Latest Stock Analysis on Hess

Insider Buying and Selling at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s 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 sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the transaction, the executive vice president now owns 162,144 shares in the company, valued at approximately $23,433,050.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess 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 sale, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Company insiders own 9.76% of the company’s stock.

Hess Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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