Seven Eight Capital LP Has $2.30 Million Stock Position in Hess Co. (NYSE:HES)

Seven Eight Capital LP lifted its stake in Hess Co. (NYSE:HESFree Report) by 847.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,970 shares of the oil and gas producer’s stock after buying an additional 14,285 shares during the period. Seven Eight Capital LP’s holdings in Hess were worth $2,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Spire Wealth Management raised its position in Hess by 30.7% in the 3rd quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 75 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Hess by 33.7% in the third quarter. Loomis Sayles & Co. L P now owns 385 shares of the oil and gas producer’s stock worth $59,000 after purchasing an additional 97 shares in the last quarter. Congress Wealth Management LLC DE boosted its holdings in Hess by 6.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,616 shares of the oil and gas producer’s stock worth $233,000 after purchasing an additional 99 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Hess by 0.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,181 shares of the oil and gas producer’s stock valued at $1,612,000 after purchasing an additional 104 shares in the last quarter. Finally, Quent Capital LLC increased its stake in Hess by 13.7% in the 4th quarter. Quent Capital LLC now owns 872 shares of the oil and gas producer’s stock valued at $126,000 after buying an additional 105 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HES. StockNews.com initiated coverage on shares of Hess in a research report on Tuesday. They issued a “sell” rating for the company. Susquehanna lifted their target price on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Citigroup increased their price target on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho lifted their target price on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.83.

Check Out Our Latest Report on Hess

Hess Price Performance

NYSE:HES traded down $0.44 on Friday, hitting $147.54. The company had a trading volume of 1,166,008 shares, compared to its average volume of 2,085,491. The firm has a 50 day moving average of $155.12 and a two-hundred day moving average of $148.16. The stock has a market capitalization of $45.46 billion, a price-to-earnings ratio of 22.59 and a beta of 1.19. Hess Co. has a 52 week low of $129.12 and a 52 week high of $167.75. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HESGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. Hess had a return on equity of 22.73% and a net margin of 17.41%. Hess’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. On average, research analysts anticipate that Hess Co. will post 9.55 earnings per share for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.4375 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.19%. Hess’s dividend payout ratio is 26.80%.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.76% of the stock is currently owned by company insiders.

Hess 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.

Further Reading

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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