Assetmark Inc. Has $2.26 Million Stock Holdings in Hess Co. (NYSE:HES)

Assetmark Inc. lifted its stake in Hess Co. (NYSE:HES) by 10,367.3% during the third quarter, Holdings Channel.com reports. The fund owned 16,643 shares of the oil and gas producer’s stock after buying an additional 16,484 shares during the period. Assetmark Inc.’s holdings in Hess were worth $2,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HES. New Covenant Trust Company N.A. acquired a new position in shares of Hess during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 88 shares during the last quarter. Eastern Bank bought a new stake in Hess during the third quarter worth $48,000. Rothschild Investment LLC acquired a new stake in Hess in the second quarter valued at $60,000. Finally, CVA Family Office LLC grew its position in shares of Hess by 31.1% in the 3rd quarter. CVA Family Office LLC now owns 451 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 107 shares during the period. Institutional investors own 88.51% of the company’s stock.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 90,476 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HES shares. Scotiabank raised their target price on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Citigroup decreased their target price on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Susquehanna raised their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $166.00 to $172.00 in a report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $163.30.

Hess Stock Up 1.4 %

HES opened at $142.82 on Thursday. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a market capitalization of $44.01 billion, a P/E ratio of 16.65 and a beta of 1.15. The stock has a fifty day moving average of $135.86 and a 200-day moving average of $143.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Hess Co. will post 9.76 EPS for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is 23.31%.

Hess 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.