Hess Co. (NYSE:HES) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its holdings in Hess Co. (NYSE:HESGet Rating) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,790 shares of the oil and gas producer’s stock after acquiring an additional 904 shares during the period. DnB Asset Management AS’s holdings in Hess were worth $4,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Hess in the 1st quarter valued at about $25,000. HM Payson & Co. grew its stake in Hess by 880.0% in the 1st quarter. HM Payson & Co. now owns 245 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. City State Bank acquired a new stake in Hess in the 4th quarter valued at about $25,000. Washington Trust Advisors Inc. acquired a new stake in Hess in the 1st quarter valued at about $28,000. Finally, Tcwp LLC acquired a new stake in Hess in the 1st quarter valued at about $42,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Hess Trading Down 1.1 %

NYSE HES opened at $120.27 on Tuesday. Hess Co. has a one year low of $66.20 and a one year high of $131.43. The company’s 50 day moving average price is $112.22 and its 200 day moving average price is $110.47. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.55 and a current ratio of 1.69. The firm has a market capitalization of $37.24 billion, a price-to-earnings ratio of 25.54 and a beta of 1.56.

Hess (NYSE:HESGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $0.24 earnings per share. Hess’s revenue for the quarter was up 87.0% compared to the same quarter last year. On average, sell-side analysts predict that Hess Co. will post 8.96 EPS for the current year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.25%. Hess’s dividend payout ratio is currently 31.85%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Raymond James raised 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. Morgan Stanley decreased their price target on shares of Hess from $135.00 to $134.00 and set an “overweight” rating on the stock in a research note on Monday, August 29th. Bank of America decreased their price target on shares of Hess from $180.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Citigroup cut 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, 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.58.

Insider Activity

In other news, SVP Geurt G. Schoonman sold 12,000 shares of Hess stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $123.73, for a total transaction of $1,484,760.00. Following the sale, the senior vice president now owns 26,391 shares in the company, valued at $3,265,358.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Geurt G. Schoonman sold 12,000 shares of Hess stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $123.73, for a total transaction of $1,484,760.00. Following the sale, the senior vice president now owns 26,391 shares in the company, valued at $3,265,358.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Gregory P. Hill sold 10,000 shares of Hess stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Hess (NYSE:HES)

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