Advanced Research Investment Solutions LLC purchased a new position in Hess Co. (NYSE: HES – Get Rating ) during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,186 shares of the oil and gas producer’s stock, valued at approximately $129,000.
Several other large investors have also added to or reduced their stakes in HES. SouthState Corp raised its stake in Hess by 14.5% during the third quarter. SouthState Corp now owns 704 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 89 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new stake in Hess in the third quarter valued at $142,000. Chevy Chase Trust Holdings LLC increased its holdings in Hess by 1.8% in the third quarter. Chevy Chase Trust Holdings LLC now owns 171,920 shares of the oil and gas producer’s stock valued at $18,739,000 after purchasing an additional 3,005 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in Hess by 5.6% during the third quarter. Schechter Investment Advisors LLC now owns 2,654 shares of the oil and gas producer’s stock valued at $289,000 after purchasing an additional 140 shares during the period. Finally, Tortoise Investment Management LLC bought a new position in shares of Hess during the third quarter valued at about $44,000. The hedge funds and other institutional investors own 86.06% of the company’s stock.
Presentation of Hess shares
NYSE HES opened at $155.00 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.72, and a quick ratio of 1.66. Hess Co. has a 1-year low of $88.86 and a 1-year high of $160.52. The company has a market cap of $47.79 billion, a PE ratio of 21.56 and a beta of 1.55. The stock’s 50-day simple moving average is $143.18, and the 200-day simple moving average is $128.97.
Hess (NYSE: HES – Get Rating ) last announced its earnings results on Wednesday, January 25th. The oil and gas producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Hess had a net margin of 19.21% and a return on equity of 27.85%. The company’s quarterly revenue increased by 35.4% year-over-year. In the same quarter last year, the company reported $0.85 EPS. As a group, equities research analysts expect Hess Co. to post 8.16 EPS for the current fiscal year.
Hess Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Monday, December 19th were given a $0.375 dividend. This represents an annualized dividend of $1.50 and a yield of 0.97%. The ex-dividend date of this dividend was Friday, December 16th. Hess’s dividend payout ratio (DPR) is 20.86%.
Changes in analyst ratings
Several analysts have recently commented on the company. Piper Sandler reduced their target price on Hess from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. StockNews.com began coverage on shares of Hess in a report on Wednesday, October 12th. They assign a “hold” rating to the company. Morgan Stanley upped their target price on shares of Hess from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, January 19th. Barclays boosted their price objective on shares of Hess from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Finally, Citigroup boosted their target price on shares of Hess from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus target price of $164.00, according to MarketBeat.
Insider Transactions at Hess
In other Hess news, COO Gregory P. Hill sold 53,851 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $143.45, for a total transaction of $7,724,925.95. Following the transaction, the chief operating officer now owns 78,434 shares of the company’s stock, valued at $11,251,357.30. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. In related news, COO Gregory P. Hill sold 53,851 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.45, for a total value of $7,724,925.95. Following the completion of the sale, the chief operating officer now owns 78,434 shares of the company’s stock, valued at $11,251,357.30. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, SVP Andrew P. Slentz sold 37,419 shares of Hess stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the transaction, the senior vice president now directly owns 29,327 shares in the company, valued at $4,346,554.67. Disclosure of this sale can be found here. Insiders own 9.93% of the company’s shares.
Hess Company Profile
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Hess Corp is an exploration and production company engaged in the exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids and natural gas with production operations. It operates in the following segments: Exploration and Production and Midstream.
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