Headlands Technologies LLC Has $272,000 Position in Hess Co. (NYSE:HES)

Headlands Technologies LLC lifted its position in shares of Hess Co. (NYSE:HES) by 3,680.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,890 shares of the oil and gas producer’s stock after purchasing an additional 1,840 shares during the period. Headlands Technologies LLC’s holdings in Hess were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Hess by 581.9% in the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock valued at $358,374,000 after buying an additional 1,998,824 shares during the period. Invesco Ltd. raised its stake in Hess by 44.1% in the 3rd quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock valued at $552,404,000 after acquiring an additional 1,105,204 shares during the period. FMR LLC lifted its holdings in Hess by 2.4% during the 3rd quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock valued at $5,697,579,000 after purchasing an additional 889,122 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Hess by 703.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,007,485 shares of the oil and gas producer’s stock worth $154,146,000 after purchasing an additional 882,045 shares during the period. Finally, Packer & Co Ltd acquired a new position in shares of Hess in the third quarter valued at $107,806,000. 88.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares in the company, valued at approximately $7,257,071.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy B. Goodell sold 2,701 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the sale, the executive vice president now owns 162,144 shares in the company, valued at approximately $23,433,050.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,798 shares of company stock worth $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Hess Stock Performance

Shares of NYSE:HES opened at $162.53 on Friday. The company’s 50 day moving average price is $151.37 and its two-hundred day moving average price is $147.22. Hess Co. has a 12-month low of $124.27 and a 12-month high of $167.75. The firm has a market cap of $50.08 billion, a PE ratio of 24.89 and a beta of 1.27. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s revenue was up 36.2% compared to the same quarter last year. Equities research analysts predict that Hess Co. will post 8.58 earnings per share for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 annualized dividend and a dividend yield of 1.08%. Hess’s dividend payout ratio is 26.80%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Mizuho lifted their target price on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. StockNews.com began coverage on shares of Hess in a report on Thursday. They issued a “sell” rating on the stock. Susquehanna increased their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Piper Sandler increased their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.42.

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.