Diversified Trust Co Sells 2,752 Shares of Hess Co. (NYSE:HES)

Diversified Trust Co reduced its holdings in Hess Co. (NYSE:HESGet Rating) by 37.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,502 shares of the oil and gas producer’s stock after selling 2,752 shares during the quarter. Diversified Trust Co’s holdings in Hess were worth $477,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its holdings in Hess by 8.2% in the first quarter. Mercer Global Advisors Inc. ADV now owns 27,390 shares of the oil and gas producer’s stock worth $2,932,000 after purchasing an additional 2,066 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Hess by 563.6% in the first quarter. EverSource Wealth Advisors LLC now owns 657 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 558 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Hess by 155.8% during the first quarter. Assenagon Asset Management S.A. now owns 22,860 shares of the oil and gas producer’s stock valued at $2,447,000 after acquiring an additional 13,923 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Hess by 18.9% during the first quarter. IFM Investors Pty Ltd now owns 41,906 shares of the oil and gas producer’s stock valued at $4,486,000 after acquiring an additional 6,654 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Hess by 4.7% during the first quarter. Crossmark Global Holdings Inc. now owns 10,634 shares of the oil and gas producer’s stock valued at $1,138,000 after acquiring an additional 480 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Hess Stock Down 2.2 %

HES stock opened at $114.40 on Friday. The stock’s fifty day simple moving average is $113.97 and its two-hundred day simple moving average is $110.82. 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 Co. has a 1-year low of $68.32 and a 1-year high of $131.43. The stock has a market cap of $35.42 billion, a P/E ratio of 24.29 and a beta of 1.56.

Hess (NYSE:HESGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $2.15 earnings per share 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 business 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 firm earned $0.24 earnings per share. The business’s revenue was up 87.0% on a year-over-year basis. Analysts expect that Hess Co. will post 8.96 EPS for the current year.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be given a $0.375 dividend. The ex-dividend date is Friday, September 16th. This represents a $1.50 annualized dividend and a yield of 1.31%. Hess’s dividend payout ratio is currently 31.85%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HES shares. Piper Sandler boosted their price objective on Hess from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 19th. Raymond James boosted their price objective on Hess from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, August 31st. Mizuho decreased their price objective on Hess from $158.00 to $143.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Citigroup boosted their price objective on Hess from $110.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley decreased their price target on Hess from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Monday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Hess presently has an average rating of “Moderate Buy” and a consensus price target of $136.08.

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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