Mediolanum International Funds Ltd Raises Stock Holdings in Hess Co. (NYSE:HES)

Mediolanum International Funds Ltd lifted its holdings in Hess Co. (NYSE:HES) by 46.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,260 shares of the oil and gas producer’s stock after purchasing an additional 5,186 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Hess were worth $2,120,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Algert Global LLC increased its holdings in shares of Hess by 53.0% in the 2nd quarter. Algert Global LLC now owns 2,920 shares of the oil and gas producer’s stock worth $431,000 after buying an additional 1,011 shares during the last quarter. Creative Planning grew its position in Hess by 3.4% in the second quarter. Creative Planning now owns 19,128 shares of the oil and gas producer’s stock worth $2,822,000 after acquiring an additional 633 shares in the last quarter. Truist Financial Corp increased its stake in Hess by 47.1% during the second quarter. Truist Financial Corp now owns 20,333 shares of the oil and gas producer’s stock worth $2,999,000 after acquiring an additional 6,508 shares during the last quarter. Cetera Investment Advisers raised its position in Hess by 1.5% during the second quarter. Cetera Investment Advisers now owns 19,751 shares of the oil and gas producer’s stock valued at $2,914,000 after purchasing an additional 285 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Hess in the 2nd quarter valued at approximately $6,054,000. Institutional investors own 88.51% of the company’s stock.

Hess Stock Performance

HES stock opened at $138.71 on Friday. Hess Co. has a 1-year low of $123.79 and a 1-year high of $163.98. The business has a 50-day moving average price of $140.69 and a 200 day moving average price of $139.39. The company has a market capitalization of $42.74 billion, a P/E ratio of 15.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 EPS for the quarter, beating the consensus estimate of $1.44 by $0.32. Hess had a net margin of 21.27% and a return on equity of 26.85%. As a group, equities research analysts forecast that Hess Co. will post 7.69 EPS for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.44%. Hess’s dividend payout ratio (DPR) is presently 22.22%.

Insider Activity

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the completion of the transaction, the chief executive officer now owns 217,894 shares of the company’s stock, valued at $32,047,849.52. This represents a 36.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HES shares. Pickering Energy Partners raised Hess to a “hold” rating in a research report on Friday, January 3rd. StockNews.com initiated coverage on shares of Hess in a research note on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $151.00 to $193.00 in a report on Monday, December 9th. Susquehanna upped their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Citigroup raised their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Hess has a consensus rating of “Moderate Buy” and an average price target of $170.50.

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.