Bayesian Capital Management LP Sells 25,600 Shares of Hess Co. (NYSE:HES)

Bayesian Capital Management LP trimmed its position in shares of Hess Co. (NYSE:HES) by 56.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,400 shares of the oil and gas producer’s stock after selling 25,600 shares during the quarter. Bayesian Capital Management LP’s holdings in Hess were worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its holdings in shares of Hess by 3.5% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,154 shares of the oil and gas producer’s stock worth $287,000 after acquiring an additional 72 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Hess by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,971 shares of the oil and gas producer’s stock worth $528,000 after purchasing an additional 73 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its stake in Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 85 shares in the last quarter. Howard Capital Management Inc. lifted its position in Hess by 5.2% during the fourth quarter. Howard Capital Management Inc. now owns 1,809 shares of the oil and gas producer’s stock valued at $241,000 after purchasing an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Hess by 18.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 629 shares of the oil and gas producer’s stock worth $84,000 after buying an additional 96 shares during the last quarter. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John B. Hess sold 175,000 shares of Hess stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $159.30, for a total value of $27,877,500.00. Following the transaction, the chief executive officer now directly owns 2,384,679 shares in the company, valued at approximately $379,879,364.70. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.10% of the stock is owned by company insiders.

Hess Stock Performance

Shares of NYSE:HES opened at $132.33 on Friday. The firm’s 50 day simple moving average is $141.81 and its 200-day simple moving average is $141.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.12. Hess Co. has a one year low of $123.79 and a one year high of $161.69. The firm has a market cap of $40.93 billion, a PE ratio of 14.70 and a beta of 0.88.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Hess had a return on equity of 26.32% and a net margin of 21.27%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities analysts predict that Hess Co. will post 8.08 EPS for the current year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.50 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. Hess’s payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

HES has been the subject of several recent research reports. UBS Group dropped their price target on Hess from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. StockNews.com started coverage on Hess in a research report on Sunday, April 27th. They set a “hold” rating on the stock. Scotiabank lowered their price target on Hess from $164.00 to $146.58 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, Susquehanna cut their price objective on shares of Hess from $160.00 to $136.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Hess currently has an average rating of “Hold” and an average target price of $164.46.

About Hess

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.