John B. Hess Sells 90,476 Shares of Hess Co. (NYSE:HES) Stock

Hess Co. (NYSE:HES) CEO John B. Hess sold 90,476 shares of the business’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 completion of the transaction, the chief executive officer now owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hess Trading Up 0.1 %

Hess stock traded up $0.17 during midday trading on Thursday, hitting $142.74. 1,861,015 shares of the stock were exchanged, compared to its average volume of 2,122,294. The stock’s 50-day simple moving average is $135.48 and its 200 day simple moving average is $143.78. Hess Co. has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $43.98 billion, a price-to-earnings ratio of 16.64 and a beta of 1.15.

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, beating analysts’ consensus estimates of $1.88 by $0.26. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 earnings per share. On average, equities analysts anticipate that Hess Co. will post 9.74 EPS for the current year.

Hess Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is presently 23.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Wolfe Research raised Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Monday, September 30th. UBS Group dropped their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. StockNews.com started coverage on shares of Hess in a research note on Saturday, November 2nd. They set a “hold” rating on the stock. Finally, Mizuho lowered their target price on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.00.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently bought and sold shares of HES. Drive Wealth Management LLC boosted its stake in shares of Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock worth $678,000 after acquiring an additional 72 shares in the last quarter. Quent Capital LLC boosted its stake in Hess by 7.3% in the 2nd quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 73 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Hess by 16.9% in the second quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock worth $80,000 after acquiring an additional 78 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its stake in shares of Hess by 2.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock valued at $444,000 after buying an additional 78 shares during the period. Finally, UMB Bank n.a. grew its position in Hess by 4.7% during the second quarter. UMB Bank n.a. now owns 1,771 shares of the oil and gas producer’s stock valued at $261,000 after acquiring an additional 80 shares during the period. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.