Kestra Private Wealth Services LLC Makes New Investment in Hess Co. (NYSE:HES)

Kestra Private Wealth Services LLC purchased a new stake in shares of Hess Co. (NYSE:HESGet Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,597 shares of the oil and gas producer’s stock, valued at approximately $492,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. City State Bank acquired a new stake in shares of Hess during the fourth quarter valued at about $25,000. Riverview Trust Co purchased a new stake in Hess in the 1st quarter valued at $25,000. HM Payson & Co. boosted its holdings 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 purchasing an additional 220 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Hess during the 1st quarter worth approximately $28,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of Hess during the 4th quarter worth approximately $37,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Hess Trading Down 1.1 %

HES opened at $120.27 on Tuesday. The firm has a 50-day moving average price of $112.22 and a two-hundred day moving average price of $110.47. The stock has a market capitalization of $37.24 billion, a PE ratio of 25.54 and a beta of 1.56. Hess Co. has a 1-year low of $66.20 and a 1-year high of $131.43. The company has a current ratio of 1.69, a quick ratio of 1.55 and a debt-to-equity ratio of 1.10.

Hess (NYSE:HESGet Rating) last posted its earnings results on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. Hess had a return on equity of 20.25% and a net margin of 15.53%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 87.0% compared to the same quarter last year. As a group, equities analysts anticipate that Hess Co. will post 8.96 earnings per share for the current fiscal year.

Hess Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HES shares. Mizuho lowered their price target on Hess from $158.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Bank of America cut their price target on shares of Hess from $180.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Piper Sandler raised their target price on shares of Hess from $161.00 to $165.00 and gave the stock an “overweight” rating in a report 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 report on Friday, June 24th. Finally, Morgan Stanley reduced their target price on shares of Hess from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Monday, August 29th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.58.

Hess Company Profile

(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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