EverSource Wealth Advisors LLC Purchases 558 Shares of Hess Co. (NYSE:HES)

EverSource Wealth Advisors LLC increased its position in Hess Co. (NYSE:HESGet Rating) by 563.6% in the first quarter, Holdings Channel.com reports. The fund owned 657 shares of the oil and gas producer’s stock after acquiring an additional 558 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Hess were worth $70,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. HighTower Advisors LLC raised its stake in Hess by 27.0% in the fourth quarter. HighTower Advisors LLC now owns 14,537 shares of the oil and gas producer’s stock valued at $1,074,000 after purchasing an additional 3,088 shares in the last quarter. Prudential PLC purchased a new stake in Hess in the fourth quarter valued at approximately $590,000. Ensign Peak Advisors Inc raised its stake in Hess by 240.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 98,094 shares of the oil and gas producer’s stock valued at $7,262,000 after purchasing an additional 69,264 shares in the last quarter. Renaissance Technologies LLC raised its stake in Hess by 250.7% in the fourth quarter. Renaissance Technologies LLC now owns 729,263 shares of the oil and gas producer’s stock valued at $53,987,000 after purchasing an additional 521,300 shares in the last quarter. Finally, Cibc World Markets Corp raised its stake in Hess by 376.4% in the fourth quarter. Cibc World Markets Corp now owns 74,026 shares of the oil and gas producer’s stock valued at $5,480,000 after purchasing an additional 58,489 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Gregory P. Hill sold 10,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $116.62, for a total transaction of $1,166,200.00. Following the sale, the chief operating officer now owns 91,635 shares in the company, valued at approximately $10,686,473.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Hess news, SVP Geurt G. Schoonman sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $123.73, for a total value of $1,484,760.00. Following the completion of the transaction, the senior vice president now owns 26,391 shares of the company’s stock, valued at approximately $3,265,358.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gregory P. Hill sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $116.62, for a total value of $1,166,200.00. Following the completion of the transaction, the chief operating officer now directly owns 91,635 shares of the company’s stock, valued at approximately $10,686,473.70. The disclosure for this sale can be found here. Company insiders own 9.93% of the company’s stock.

Hess Stock Performance

NYSE:HES opened at $121.64 on Friday. The stock has a market cap of $37.66 billion, a P/E ratio of 25.83 and a beta of 1.56. The firm’s fifty day simple moving average is $112.22 and its 200 day simple moving average is $110.34. Hess Co. has a twelve month low of $66.20 and a twelve month high of $131.43. The company has a quick ratio of 1.55, a current ratio of 1.69 and a debt-to-equity ratio of 1.10.

Hess (NYSE:HESGet Rating) last announced its earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. Hess had a net margin of 15.53% and a return on equity of 20.25%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up 87.0% on a year-over-year basis. As a group, research analysts predict that Hess Co. will post 9.27 EPS for the current year.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, September 16th. Hess’s dividend payout ratio (DPR) is presently 31.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their target price on shares of Hess from $158.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Piper Sandler lifted their price target on shares of Hess from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 19th. Barclays decreased their price target on shares of Hess from $149.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Citigroup downgraded shares of Hess from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $126.00 to $100.00 in a research note on Friday, June 24th. Finally, Raymond James lifted their price target on shares of Hess from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 31st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.58.

About Hess

(Get Rating)

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.

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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