Mach 1 Financial Group LLC Invests $727,000 in Hess Co. (NYSE:HES)

Mach 1 Financial Group LLC purchased a new position in shares of Hess Co. (NYSE:HES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,044 shares of the oil and gas producer’s stock, valued at approximately $727,000.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of Hess during the third quarter worth approximately $26,000. Larson Financial Group LLC purchased a new stake in shares of Hess during the third quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Hess during the fourth quarter worth approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of Hess during the third quarter worth approximately $33,000. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Hess during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 88.51% of the company’s stock.

Wall Street Analysts Forecast Growth

HES has been the topic of several recent analyst reports. 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 assumed coverage on shares of Hess in a research report on Thursday, April 25th. They set a “sell” rating on the stock. Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Susquehanna raised their target price on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.42.

Insider Transactions at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction 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 transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the completion of the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated 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 owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock valued at $22,811,166 in the last 90 days. 9.76% of the stock is currently owned by insiders.

Hess Price Performance

Hess stock traded down $5.64 during midday trading on Tuesday, reaching $157.49. The company’s stock had a trading volume of 1,668,279 shares, compared to its average volume of 2,546,743. Hess Co. has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 1.23. The stock’s 50 day simple moving average is $151.88 and its 200 day simple moving average is $147.19. The firm has a market capitalization of $48.52 billion, a PE ratio of 24.12 and a beta of 1.27.

Hess (NYSE:HES) last released its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company earned $1.13 earnings per share. Hess’s quarterly revenue was up 36.2% compared to the same quarter last year. On average, equities research analysts forecast that Hess Co. will post 8.58 earnings per share for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Hess Company 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.