Mackenzie Financial Corp Raises Stock Holdings in Hess Co. (NYSE:HES)

Mackenzie Financial Corp boosted its position in Hess Co. (NYSE:HES) by 85.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,195 shares of the oil and gas producer’s stock after buying an additional 11,599 shares during the quarter. Mackenzie Financial Corp’s holdings in Hess were worth $3,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of HES. Victory Capital Management Inc. increased its position 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 worth $358,374,000 after buying an additional 1,998,824 shares during the last quarter. Invesco Ltd. increased its position in Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after buying an additional 1,105,204 shares during the last quarter. FMR LLC increased its position in Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after buying an additional 889,122 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Hess by 703.2% in 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 buying an additional 882,045 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Hess in the second quarter worth $113,801,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction dated 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 sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction dated 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 sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gregory P. Hill sold 56,925 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $146.35, for a total value of $8,330,973.75. Following the completion of the transaction, the chief operating officer now owns 78,287 shares in the company, valued at approximately $11,457,302.45. The disclosure for this sale can be found here. Insiders sold a total of 155,798 shares of company stock valued at $22,811,166 over the last 90 days. Insiders own 9.76% of the company’s stock.

Hess Price Performance

NYSE:HES opened at $154.35 on Monday. The firm has a market capitalization of $47.56 billion, a price-to-earnings ratio of 34.30 and a beta of 1.27. Hess Co. has a 52-week low of $124.27 and a 52-week high of $167.75. The stock has a fifty day moving average of $149.96 and a 200 day moving average of $146.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05.

Hess (NYSE:HES) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company earned $1.78 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that Hess Co. will post 8.32 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is currently 38.89%.

Wall Street Analysts Forecast Growth

HES has been the subject of a number of analyst reports. Mizuho raised their price target on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Susquehanna raised their price target on Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. StockNews.com initiated coverage on Hess in a report on Wednesday, April 17th. They issued a “sell” rating for the company. Finally, Piper Sandler raised their price target on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $176.75.

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.