Hess Co. (NYSE:HES) CEO John B. Hess Sells 92,894 Shares

Hess Co. (NYSE:HES) CEO John B. Hess sold 92,894 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $147.80, for a total value of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares in the company, valued at approximately $33,914,927. This trade represents a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Hess Stock Performance

Shares of HES stock opened at $148.65 on Friday. The firm has a 50 day moving average of $138.79 and a 200-day moving average of $142.58. The company has a market cap of $45.80 billion, a price-to-earnings ratio of 17.33 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. Hess Co. has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, equities analysts forecast that Hess Co. will post 9.72 earnings per share for the current year.

Hess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This is an increase from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is 23.31%.

Analyst Upgrades and Downgrades

HES has been the topic of a number of research reports. UBS Group reduced their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Piper Sandler cut their target price on Hess from $173.00 to $167.00 in a report on Friday, September 13th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Monday, September 30th. Wells Fargo & Company cut their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Finally, Scotiabank increased their target price on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $163.30.

Institutional Investors Weigh In On Hess

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after purchasing an additional 1,391,311 shares during the period. HBK Investments L P increased its position in shares of Hess by 16.7% during the third quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after acquiring an additional 1,017,720 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hess by 31.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after acquiring an additional 785,270 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Hess by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock valued at $418,291,000 after acquiring an additional 726,631 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Hess by 76.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock valued at $227,273,000 after purchasing an additional 663,338 shares during the last quarter. Institutional investors and hedge funds own 88.51% 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.