Confluence Investment Management LLC grew its stake in Hess Co. (NYSE:HES – Free Report) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund owned 4,117 shares of the oil and gas producer’s stock after purchasing an additional 255 shares during the quarter. Confluence Investment Management LLC’s holdings in Hess were worth $548,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Covestor Ltd boosted its stake in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 98 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Hess in the third quarter worth approximately $37,000. Eastern Bank bought a new position in shares of Hess in the third quarter worth approximately $48,000. LRI Investments LLC grew its holdings in shares of Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 217 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in Hess in the 3rd quarter worth approximately $55,000. 88.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on HES shares. StockNews.com initiated coverage on Hess in a report on Saturday, December 28th. They issued a “hold” rating for the company. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $151.00 to $193.00 in a report on Monday, December 9th. UBS Group upped their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price target on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Susquehanna increased their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.50.
Insiders Place Their Bets
In related news, CEO John B. Hess sold 92,894 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares in the company, valued at $3,914,019.71. This trade represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,370 shares of company stock worth $45,856,309. Company insiders own 9.76% of the company’s stock.
Hess Stock Up 1.8 %
Shares of HES stock opened at $135.42 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess Co. has a 12 month low of $123.79 and a 12 month high of $163.98. The stock has a market cap of $41.73 billion, a P/E ratio of 15.78 and a beta of 1.17. The company has a 50 day simple moving average of $139.62 and a two-hundred day simple moving average of $139.86.
Hess (NYSE:HES – Get Free Report) last announced its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the firm earned $1.64 EPS. Hess’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts expect that Hess Co. will post 9.74 earnings per share for the current year.
Hess Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, December 16th. Hess’s dividend payout ratio 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.
Featured Articles
- Five stocks we like better than Hess
- About the Markup Calculator
- 3 Legacy Tech Companies Reemerging as AI Leaders
- Dividend Payout Ratio Calculator
- Analysts’ Favorite Cybersecurity Stocks: 3 Top Picks
- How to Read Stock Charts for Beginners
- Analysts Are Bullish: 3 Tech Giants With Upgraded Price Targets
Want to see what other hedge funds are holding HES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hess Co. (NYSE:HES – Free Report).
Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.