Pacific Capital Wealth Advisors Inc. Makes New Investment in Hess Co. (NYSE:HES)

Pacific Capital Wealth Advisors Inc. purchased a new stake in Hess Co. (NYSE:HES) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 189 shares of the oil and gas producer’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management increased its stake in shares of Hess by 30.7% in the 3rd quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 75 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Hess by 2.0% during the third quarter. CHICAGO TRUST Co NA now owns 4,420 shares of the oil and gas producer’s stock worth $676,000 after purchasing an additional 87 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Hess by 33.7% during 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 during the period. Quent Capital LLC boosted its holdings 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 purchasing an additional 105 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Hess by 21.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 610 shares of the oil and gas producer’s stock valued at $93,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Down 0.6 %

NYSE HES traded down $0.92 during trading hours on Tuesday, hitting $158.48. 2,463,966 shares of the company were exchanged, compared to its average volume of 2,652,322. The company has a 50 day moving average of $152.88 and a two-hundred day moving average of $146.99. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The firm has a market cap of $48.83 billion, a price-to-earnings ratio of 24.27 and a beta of 1.24. Hess Co. has a 52-week low of $124.27 and a 52-week high of $167.75.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.98 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue was up 36.2% compared to the same quarter last year. Equities research analysts anticipate that Hess Co. will post 9.17 earnings per share for the current year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Hess

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

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.