U.S. Capital Wealth Advisors LLC Makes New $125,000 Investment in Hess Co. (NYSE:HES)

Posted by Defense World Staff on Apr 30th, 2023

U.S. Capital Wealth Advisors LLC bought a new position in shares of Hess Co. (NYSE:HES – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 879 shares of the oil and gas producer’s stock, valued at approximately $125,000.

Other institutional investors also recently modified their holdings of the company. Raymond James Trust N.A. bought a new position in shares of Hess during the first quarter worth approximately $446,000. Blair William & Co. IL boosted its holdings in shares of Hess by 17.1% during the 1st quarter. Blair William & Co. IL now owns 4,276 shares of the oil and gas producer’s stock valued at $458,000 after acquiring an additional 625 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Hess by 3.7% during the 1st quarter. Allianz Asset Management GmbH now owns 114,120 shares of the oil and gas producer’s stock valued at $12,216,000 after acquiring an additional 4,027 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Hess during the 1st quarter valued at $410,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Hess by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock valued at $3,310,590,000 after acquiring an additional 667,979 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hess

In other Hess news, COO Gregory P. Hill sold 7,500 shares of Hess stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $132.40, for a total transaction of $993,000.00. Following the completion of the transaction, the chief operating officer now owns 116,346 shares in the company, valued at approximately $15,404,210.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO John P. Rielly sold 3,380 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $137.41, for a total value of $464,445.80. Following the transaction, the chief financial officer now owns 309,841 shares in the company, valued at approximately $42,575,251.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gregory P. Hill sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $132.40, for a total value of $993,000.00. Following the completion of the transaction, the chief operating officer now owns 116,346 shares in the company, valued at approximately $15,404,210.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 235,220 shares of company stock worth $33,298,936. Insiders own 9.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James raised their target price on Hess from $170.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Citigroup raised their target price on Hess from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Bank of America raised their target price on Hess from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Mizuho raised their target price on Hess from $163.00 to $170.00 in a research report on Friday, March 10th. Finally, 92 Resources reissued a “maintains” rating on shares of Hess in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Hess currently has an average rating of “Moderate Buy” and a consensus target price of $168.94.

Hess Price Performance

HES stock opened at $145.06 on Friday. The company has a market capitalization of $44.41 billion, a P/E ratio of 20.78 and a beta of 1.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.55 and a current ratio of 1.65. Hess Co. has a 52-week low of $90.34 and a 52-week high of $160.52. The business has a 50-day simple moving average of $136.09 and a two-hundred day simple moving average of $139.87.

Hess (NYSE:HES – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The oil and gas producer reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.37 billion. Hess had a return on equity of 25.85% and a net margin of 18.47%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Research analysts expect that Hess Co. will post 6.08 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Monday, March 13th were paid a dividend of $0.438 per share. The ex-dividend date was Friday, March 10th. This represents a $1.75 dividend on an annualized basis and a yield of 1.21%. This is an increase from Hess’s previous quarterly dividend of $0.38. Hess’s payout ratio is 25.07%.

About Hess

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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.