Tyche Wealth Partners LLC Makes New Investment in Hess Co. (NYSE:HES)

Tyche Wealth Partners LLC acquired a new position in shares of Hess Co. (NYSE:HES) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,663 shares of the oil and gas producer’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Spire Wealth Management increased its stake in Hess by 30.7% in the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 75 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Hess by 24.0% during the first quarter. Harbour Investments Inc. now owns 403 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 78 shares during the last quarter. Ossiam lifted its holdings in shares of Hess by 1.0% during the first quarter. Ossiam now owns 8,093 shares of the oil and gas producer’s stock worth $1,071,000 after purchasing an additional 79 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Hess by 5.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,667 shares of the oil and gas producer’s stock valued at $221,000 after acquiring an additional 80 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in Hess by 0.6% in the fourth quarter. Brown Advisory Inc. now owns 12,726 shares of the oil and gas producer’s stock valued at $1,805,000 after purchasing an additional 80 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO John B. Hess sold 73,885 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the completion of the sale, the chief executive officer now owns 138,718 shares in the company, valued at $20,234,794.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 33,581 shares in the company, valued at $5,073,417.48. The disclosure for this sale can be found here. In the last three months, insiders sold 155,798 shares of company stock valued at $22,811,166. Company insiders own 9.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HES. Mizuho upped their price objective on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. StockNews.com started coverage on Hess in a research note on Wednesday. They issued a “sell” rating for the company. Piper Sandler upped their target price on Hess from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Susquehanna boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $176.67.

Hess Price Performance

Shares of Hess stock opened at $150.80 on Thursday. The stock has a market capitalization of $46.46 billion, a P/E ratio of 33.51 and a beta of 1.27. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average price is $149.60 and its 200 day moving average price is $146.76. Hess Co. has a twelve month low of $124.27 and a twelve month high of $167.75.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.78 earnings per share. As a group, research analysts anticipate that Hess Co. will post 7.77 earnings per share for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 38.89%.

About Hess

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.